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DDF to raise $750m to fund expansion

Dubai Duty Free (DDF) has said it has selected Abu Dhabi Commercial Bank, Emirates NBD and Standard Chartered to arrange a $750m loan to fund the company's expansion at the world's second-busiest airport and improve its capital structure, Reuters has reported. The new facility comes three months after the world's largest single-airport retailer negotiated a reduction in pricing on a $1.75bn loan raised in 2012. DDF is the sole duty free operator at the departure and arrival areas of all terminals at Dubai International Airport, second only to London Heathrow for the number of passengers handled.