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DP World owner inks $850 mln refinancing – sources

The deal, which replaces a $1.15 billion facility which matures this month, was signed by 15 banks in total and was split almost evenly between a conventional tranche and a sharia-compliant piece.

September 21, 2011 3:43 by



Dubai’s Port & Free Zone World (PFZW), the direct owner of global ports operator DP World , has signed an $850 million loan refinancing, banking sources said on Tuesday.

The deal, which replaces a $1.15 billion facility which matures this month, was signed by 15 banks in total and was split almost evenly between a conventional tranche and a sharia-compliant piece.

State-owned conglomerate Dubai World is the parent company of PFZW, which owns 80.5 percent of DP World. (Reporting By David French and Michelle Meineke; Editing by Amran Abocar)



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