DP World owner confirms $850m loan refinancing
"DP World Limited has been advised that Port & Free Zone World FZE has refinanced its outstanding $850 million debt facility secured in part against certain of its shares in DP World," the statement said.
September 22, 2011 3:46 by Reuters
Dubai’s Port and Free Zone World (PFZW), the direct owner of global ports operator DP World , has signed an $850 million loan refinancing, the latter said in a bourse statement on Wednesday.
DP World Limited has been advised that Port & Free Zone World FZE has refinanced its outstanding $850 million debt facility secured in part against certain of its shares in DP World,” the statement said.
Sources told Reuters on Tuesday that the five-year loan had been signed by 15 banks and was almost evenly split between conventional and sharia-compliant tranches. (Reporting By David French)
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