GEMS Education is in talks for a USD500mn loan facility, according to banking sources familiar with the transaction. The loan will be used partly to refinance existing USD-denominated debt in addition to back payments. The loan has a lifespan of three years, but will have a clause allowing it to be extended twice for a further one-year period. Emirates NBD has a leading role in the transaction, bankers said, one source added that a European bank will co-lead the deal. The loan is likely to be initially funded by the leading banks, and could potentially be sold down to other lenders at a later stage. (Arabian Business)   Emirates NBD (DU): AED7.70 as of 13 Nov 2016, Rating: Buy, FV: AED9.80/share, MCap: USD11,661mn, EMIRATES UH / ENBD.DU