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Drake and Scull advances on new $120m loan
- United Arab Emirates: Wednesday, November 14 - 2012 at 16:07
The Dubai market DFM added 0.12% to close at 1,616.81 points Wednesday. Shares of real estate engineering and maintenance firm Drake and Scull International (DSI) finished 0.90% higher at Dhs0.79. Earlier in the day, DSI said it signed a 5-year $120 million USD equivalent loan financing "split across an AED and USD tranche." Osama Hamdan, CFO of DSI, said "The loan will help the company in pursuing its growth plans in North Africa, Asia and other growth markets and will provide the liquidity to capitalize on various PPP projects which usually require participation from contractors in terms of investment, especially in the infrastructure sector."
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Gérard Al-Fil, Financial JournalistWednesday, November 14 - 2012 at 16:07 UAE local time (GMT+4)
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