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Majid Al Futtaim borrows $1bn
- United Arab Emirates: Thursday, July 03 - 2008 at 11:15
Dubai-based retail, property and investment company Majid Al Futtaim Group announcd that it has borrowed $1bn from 13 banks in its first international loan to refinance outstanding debt and for general corporate use. The company got a $500m four-year loan and a $500m revolving loan of identical maturity paying interest of 1 percentage point more than benchmark rates, reported Reuters.
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Jeff Florian, Senior ReporterThursday, July 03 - 2008 at 11:15 UAE local time (GMT+4)
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