DUBAI: Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1bn loan, as well as extend the lifespan and cut the interest rate, seeking to take advantage of investors’ renewed confidence in the emirate.
The firm, part of state-owned conglomerate Dubai World, is aiming to raise the loan to $3bn, four banking sources said.
The five-year revolving credit facility was signed in April 2012 and has been renegotiated once, adding a year to the lifespan in June 2013.
“We undertake a regular annual review of our banking facilities as part of active financial management,” a spokesperson for DP World said. Reuters
