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Kerzner inks $145m loan refinancing deal
- United Arab Emirates: Wednesday, March 27 - 2013 at 04:50
Kerzner International Hotels, which operates hotels including Dubai's Atlantis resort, has announced the signing of a $145m loan refinancing, Reuters has reported. Deutsche Bank underwrote the loan before selling portions of the debt to Abu Dhabi Commercial Bank, Ahli United Bank, Emirates NBD and Doha Bank during a syndication phase. The completion of the refinancing allows Kerzner to continue focusing on its role as a management company, with significantly reduced indebtedness, under which it will continue to operate the current Atlantis, One&Only and Mazagan resorts, the firm said. Kerzner sold its stake in Dubai's Atlantis resort to joint-venture partner Istithmar World, a unit of state-owned Dubai World, for $250m.
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