Three sources have revealed that the investment arm of Dubai's International Financial Centre is looking to secure a $1bn loan to help it meet the June maturity of a $1.25bn Islamic bond, Reuters has reported. Talks with banks to secure finance are still at an early stage, and the final loan amount is expected to be between $900m and $1bn, sources have added. DIFC Investments' (Difci) sukuk obligation has been highlighted by analysts as one of the most challenging refinancings in the Gulf Arab region this year, given the size of the maturity and the firm's limited cash position.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.