Dubai Business Park Operator Tecom Raises $2 Billion Loans
Source: Tecom Group
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Tecom Group, the Dubai business park operator that plans to sell shares in an IPO, raised $2 billion in two-part debt for refinancing, according to data compiled by Bloomberg.
Tecom, part of state-owned Dubai Holding, obtained 4 billion dirhams ($1.1 billion) in five-year Islamic financing from Dubai Islamic Bank and Emirates NBD PJSC, according to the data. It also secured 3.6 billion dirhams in a five-year term loan from Emirates NBD PJSC and First Abu Dhabi Bank PJSC.