Dubai theme park operator working with Moelis & Co on debt restructuring: sources | Reuters:
Ilyas & Mustafa Galadari Group (IMG), the Dubai-based operator of the world’s largest indoor theme park, has hired Moelis & Co (MC.N) to advise it on a debt-restructuring, four banking sources told Reuters.
IMG has been in long-running talks with banks to extend the term and size of a 1.2 billion dirham ($326.7 million) syndicated loan taken in 2014.
The loan, led by Abu Dhabi Islamic Bank ADIB.AD and including participation from Al Hilal Bank, Commercial Bank International CBI.AD, Noor Bank and Sharjah Islamic Bank SIB.AD, was partly used to build its Worlds of Adventure theme park.
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