ArabianBusiness.com - Middle East Business News
Wednesday, 03 December 2008 00:23 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

Borse Dubai in talks to refinance $3.78bn loan

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 16 September 2008
IN TALKS: Borse Dubai is looking to refinance the $3.78 billion loan used to back its takeover of OMX. (Getty Images)

Borse Dubai has begun talks with banks over a syndicated loan that will refinance the company's $3.78 billion loan agreed in March to back its acquisition of Nordic exchanges group OMX, banking sources said.

The original financing, which matures on Feb. 28 2009, is split between a $2.226 billion facility and a 796 million pound facility.

Borse Dubai and the Nasdaq Stock Market concluded a $4.9 billion deal in February to buy OMX.

Story continues below
advertisement

Borse Dubai, the holding company for Dubai's stock exchange business, is the latest in a long line of Dubai government-owned entities, known collectively as Dubai Inc, to approach the syndicated loan market for funds.

Since June, Dubai Inc borrowers have agreed or are in the process of negotiating loans worth $16 billion, including Investment Corporation of Dubai, Dubai World unit Port & Free Zone World, Dubai Financial, Dubai Holding, DIFC Investments, Nakheel, Dubai Drydocks and Dubai Aerospace Enterprise. (Reuters)

Print Print | Email Email | Discuss this article |


READERS' COMMENTS



Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

 EMAIL ALERTS

  1. Borse Dubai

  2. OMX

  3. Financial Markets



EMIRATES ID DOWNLOAD

READER COMMENTS

Read all user comments >

BUSINESS FEATURES

Banks hoard Fed cuts

Regional mortgage lenders are refusing to pass falling US interest rates on to customers in the emirates.

Hedge funds prowl Japan's Ashiya City

Why the place is a feeding ground for hedge funds tapping the wealth of people like Kunihisa Sagami.

Vanishing act

Customers of UK building society Bradford and Bingley ask where's safest as banks continue to vanish.

BUSINESS INTERVIEWS

JP Morgan seeks growth in KSA market

Ghassan Abdul Karim explains why the kingdom is a crucial part of the company jigsaw in the Gulf.

Why there's life after Lehman

As global markets go into freefall, where will sovereign funds be looking next? Makram Azar explains.

Eyeing African investments

Wessel Witthuhn of IFA discusses the company's on-going hospitality investment plans in the region.

MORE FROM ARABIANBUSINESS.COM