Dubai Metro said to invite local banks to join USD1.1bn loan deal
Dubai Metro is said to invite local banks to join a USD1.1bn loan deal to fund the metro’s extension. The local banks were invited after an initial request to international banks did not receive sufficient response. Foreign banks were earlier asked to bid pro rata for a USD1.34bn 18-year facility backed by European export-credit agencies, and the USD1.12bn 10-year commercial facility guaranteed by Dubai government. (Bloomberg)
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