Jumeirah plans to raise $1.4bn loan
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Jumeirah plans to raise $1.4bn loan

Jumeirah plans to raise $1.4bn loan

Dubai-based Jumeirah Group is raising $1.4bn in a six-year loan, as the operator of the emirate's iconic Burj Al Arab hotel takes advantage of a drop in borrowing costs, Bloomberg has reported, citing two bankers familiar with the plan. The state-owned hospitality firm has given lenders four weeks to respond with commitments to the facility, the bankers said. Jumeirah's revenue grew 12% in 2012 to Dhs3.11bn ($847m), while assets as at December 31, 2012, stood at Dhs12.7bn.

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