DP World to Repay $3 Billion Loan in April Using Own Cash
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DP World Ltd. will repay a $3 billion revolving credit facility six months ahead of schedule with its own cash as the world’s third-biggest port operator sets up a $1 billion facility for investments.
The five-year facility maturing in October will be repaid between April 4 and 10, the Dubai-based company said in a statement to Nasdaq Dubai today. The payment will reduce DP World’s debt to about $4.7 billion and leave it with a cash balance of about $1.2 billion, according to the statement.