Dubai's Empower secures $408 mln syndicated loan | Reuters:
Dubai district cooling company Empower said on Tuesday it had secured a $1.5 billion dirham ($408 million) syndicated loan that it would use to finance capacity expansion and infrastructure.
The loan was secured from Citibank, Emirates NBD , Standard Chartered, Mashreq Bank and Samba Financial Group, Empower said in a statement.
Empower is a joint venture between Dubai Electricity and Water Authority and Dubai Holding subsidiary TECOM Group, according to Dubai Holding’s website.
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