(Bloomberg) -- 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.
Click here for details on Islamic financing and click here for details on term loan.
Dubai said in December that it plans to list Tecom, which houses the headquarters of more than 5,600 companies, on its stock market. Tecom operates 10 large business complexes such as Dubai Internet City, Dubai Media City, Dubai Design District and Dubai Industrial Park.
Emirates NBD acted as the sole coordinator for the loan.
©2022 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
