Biggest Loan Refinance to Emerge in Dubai Since Financial Crisis
In 2006 and 2007, the Investment Corporation of Dubai was building a large acquisitive portfolio. Priorities have changed since the financial crisis. The Investment Corporation of Dubai has put forward a US$2.8 billion, 5-year loan refinancing. This is a significant milestone since this is the largest loan to originate in Dubai since the financial crisis. Even though the Investment Corporation of Dubai is a sovereign entity, it does face higher borrowing costs. The loan refinances US$ 6 billion in existing debt.
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