DP World to Repay $3 Billion Loan in April
(Corrects to clarify that the new loan is not part of the repayment plan.)
DP World Ltd. (DPW), the world’s third- biggest port operator, will repay a $3 billion revolving credit facility next month ahead of its maturity in October, using existing cash resources.
The Dubai-based company will set up a new $1 billion five- year revolving credit facility, it said in a statement to Nasdaq Dubai today. “We have no immediate need to draw down the new facility,” it said.
The existing loan will be repaid between April 4 and 10. It will reduce DP World’s debt to about $4.7 billion, leaving it with a cash balance of about $1.2 billion, the company said.
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