Drydocks World in talks on profit-sharing loan
Complex Made Simple

Drydocks World in talks on profit-sharing loan

Drydocks World in talks on profit-sharing loan

Dubai-based Drydocks World is in talks to secure a $1.5bn profit participating loan from a group of lenders including HSBC Holdings and BNP Paribas, Bloomberg has reported, citing a person with knowledge of the talks. The 15-year loan, part of a $2.25bn debt restructuring for the Middle East's biggest shipyard, will pay creditors profit or cash from asset sales, said the person. Dubai World-controlled Drydocks also agreed on a new $800m five-year term loan paying a market interest rate, he said.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved