Borse Dubai in talks to refinance $3.78bn loan

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.

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 | Email | Discuss this article

| Share |

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Email *	(Your email address will not be published)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
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM