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Tue 19 Jan 2010 06:00 PM

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Borse Dubai extends $2.5bn loan to Feb 2011

London Stock Exchange stakeholder decides to exercise one-year extension option.

State-run Borse Dubai, stakeholder in the London Stock Exchange, said on Tuesday it had decided to exercise a one-year option to extend a $2.5 billion syndicated loan facility.

Borse Dubai raised the financing in February 2009 with a one-year maturity.

"Borse Dubai Limited announced today that it has informed the participating banks of its decision to exercise the one-year extension option of the current $2.5 billion multicurrency syndicated facility," it said in the statement.

The decision to extend the loan to February 2011 will take some of the pressure off Dubai's immediate debt repayment concerns.

Dubai rocked global markets on November 25 when it said it would ask creditors to agree a standstill on $26 billion in debt, linked to its main property units. (Reuters)

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