GCC loans face Borse Dubai’s $2.5bn refi test
Borse Dubai is approaching banks to come into the long-awaited $2.5bn refinancing of its acquisition facility from last year, in what bankers have described as an acid test of the Middle Eastern loan market.
Although the borrower is paying up to 430bp over Libor all-in to secure the loan, a huge jump from the level of margins it paid last year, some bankers remained unconvinced of the deals chances in syndication.
While Borse Dubai has set out a target refinancing amount of
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