Wednesday, 21 September 2011 at 18:20, Reuters
Dubai's Port & Free Zone World is the direct owner of global ports operator DP World. (REUTERS)
Dubai's Port & Free Zone World (PFZW), the direct owner of global ports operator DP World , has signed an $850 million loan refinancing, the latter said in a bourse statement on Wednesday.
"DP World Limited has been advised that Port & Free Zone World FZE has refinanced its outstanding $850m debt facility secured in part against certain of its shares in DP World," the statement said.
Sources told Reuters on Tuesday that the five-year loan had been signed by 15 banks and was almost evenly split between conventional and sharia-compliant tranches.
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