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Sovereign Wealth Funds Briefing - Categorized | Financials

Dubai’s ICD Said to Seek $880 Million Atlantis Debt Refinancing

Posted on 19 August 2014

Investment Corporation of Dubai, the emirate state-owned holding company, is seeking to refinance an $880 million loan taken out by resort hotel Atlantis, The Palm, according to four people with knowledge of the matter.
The company hired HSBC Holdings Plc (HSBA), Standard Chartered Plc (STAN), and Emirates NBD PJSC on the deal, three of the people said, asking not to be identified as the talks aren’t public. The company is seeking a significant cut on the 5.5 percent above the London interbank offered rate price it has on the existing deal, three of the people said. The new loan could be increased to about $1 billion, one of the people said………………………………………..Full Article: Source


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