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Dubai's Investment Corp may refinance $2bn loan
- United Arab Emirates: 6 hours, 33 minutes ago
Investment Corporation of Dubai (ICD) has entered into talks with banks over a $2bn loan it is scheduled to repay in August, with refinancing the most likely option, Reuters has reported citing four banking sources. The loan is the second tranche of a $6bn facility that the sovereign fund raised in September 2008. The first $4bn was repaid in 2011. Talks are at an early stage and more detail is expected to emerge in the coming weeks about how ICD plans to handle the loan's maturity, the bankers said.
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