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.

  • 16 Jan 2009

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 deal’s chances in syndication.

While Borse Dubai has set out a target refinancing amount of ...

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