Dubai Education Billionaire’s Firm Seeks to Raise $400 Million in Debt

Varkey Group, the holding company controlled by a Dubai-based family best known for setting up one of the world’s largest school operators, is in talks to raise about $400 million in debt financing, according to people familiar with the matter.

The company is in talks with lenders including First Abu Dhabi Bank PJSC, Dubai Islamic Bank PJSC and Synergy Capital, the people said, declining to be identified as the information is private. More funds could join the credit deal, lifting the eventual sum higher, the people said.