Dubai World set to raise $10b loans to funds overseas investments
Dubai World Corporation yesterday said it is in the process of raising Dh10 billion ($2.7 billion) in loans to support its global acquisition and investment strategies, as well as for general corporate purposes.
Credit Suisse International, Deutsche Bank AG, London Branch, and The Royal Bank of Scotland plc are the Initial Mandated Lead Arrangers and Joint Bookrunners and have been mandated to arrange Dubai World's debut 364-day Syndicated Term Loan Facility.
Maryam Sharaf, Group Chief Financial Officer, Dubai World, said: "This is a significant new stage in Dubai World's corporate funding strategy as we expand globally. The Syndicated Term Loan Facility demonstrates the strength and standing of Dubai World Corporation in the international financial markets and the quality of its relationships with the banking community."
Syndication of the facility was launched on September 4 to a selected group of financial institutions. Management presentations for the benefit of potential lenders, presenting an overview of Dubai World and its core operating subsidiaries and detailing the transaction, will take place, apart from London, in Dubai today and Hong Kong on September 14.
Dubai World Corporation is a decree company created and wholly owned by the Government of Dubai. It manages and supervises a diversified conglomerate of businesses, investments and projects spanning over 100 different cities around the world and employing over 50,000 people.
Dubai World's key subsidiaries include DP World, Istithmar, Nakheel, Economic Zones World, Dry Docks & Maritime World, and Limitless.
Aggregating all of the diverse business operations makes Dubai World one of the world's largest holding companies.
Chaired by Sultan Ahmad Bin Sulayem, Dubai World was mandated with a vision to continue expanding Dubai's aggressive growth, at home and abroad. It comprises of development, investment, marine services, commodities, and ports and free zone businesses.
Credit Suisse International, Deutsche Bank AG, London Branch, and The Royal Bank of Scotland plc are the Initial Mandated Lead Arrangers and Joint Bookrunners and have been mandated to arrange Dubai World's debut 364-day Syndicated Term Loan Facility.
Maryam Sharaf, Group Chief Financial Officer, Dubai World, said: "This is a significant new stage in Dubai World's corporate funding strategy as we expand globally. The Syndicated Term Loan Facility demonstrates the strength and standing of Dubai World Corporation in the international financial markets and the quality of its relationships with the banking community."
Syndication of the facility was launched on September 4 to a selected group of financial institutions. Management presentations for the benefit of potential lenders, presenting an overview of Dubai World and its core operating subsidiaries and detailing the transaction, will take place, apart from London, in Dubai today and Hong Kong on September 14.
Dubai World Corporation is a decree company created and wholly owned by the Government of Dubai. It manages and supervises a diversified conglomerate of businesses, investments and projects spanning over 100 different cities around the world and employing over 50,000 people.
Dubai World's key subsidiaries include DP World, Istithmar, Nakheel, Economic Zones World, Dry Docks & Maritime World, and Limitless.
Aggregating all of the diverse business operations makes Dubai World one of the world's largest holding companies.
Chaired by Sultan Ahmad Bin Sulayem, Dubai World was mandated with a vision to continue expanding Dubai's aggressive growth, at home and abroad. It comprises of development, investment, marine services, commodities, and ports and free zone businesses.