Ilyas & Mustafa Galadari Group (IMG), the Dubai-based operator of the world’s largest indoor theme park, is in talks with banks to restructure a AED1.2bn (USD326.7mn) syndicated loan and is seeking to extend its maturity, the company and financial sources told Reuters. The company is also looking to upsize its existing loan facility due to cost overruns, IMG said. The loan taken in 2014, led by Abu Dhabi Islamic Bank and included participation from Al Hilal Bank, Commercial Bank International, Noor Bank and Sharjah Islamic Bank, was used for corporate debt and to build Worlds of Adventure theme park. Talks between the company and banks about loan restructuring began a few weeks ago in order to help ease the company’s financial situation, sources familiar with the talks told Reuters. The company is close to reaching an agreement with creditors that would involve some of the banks providing more finance to IMG and extending the loan maturity, sources added. In return, additional covenants would be put in place to allow banks to monitor the company’s financial situation better. The upsizing of the facility was linked to a cost overrun on the “pre-opening” of the theme park and not due to visitor numbers, IMG said in a statement on Sunday.