Dubai in talks for USD3bn loan to fund airport expansion
Dubai government is reportedly in talks with banks over a 7-year loan worth USD3bn. The loan will be priced at 200bps over Libor/Eibor plus 85bps in fees, according to two people familiar with the matter. HSBC is advising on the loan due to be signed mid-February 2017. Banks said to push for higher pricing on the credit facility. Dubai government said earlier that it is planning USD36bn spending on the Dubai airport. (Bloomberg)
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