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Sept. 29 (Bloomberg) -- Ports & Free Zone World FZE, the holding company for Dubai-based ports operator DP World Ltd., closed the syndication of an $850 million amortizing loan.
The five-year secured financing replaces debt signed in September 2008 and includes a $430 million Islamic tranche, lenders to DP World said in a statement.
Citigroup Inc., Deutsche Bank AG, Emirates NBD PJSC and HSBC Holdings Plc are the initial underwriters of the transaction, according to the statement.
Dubai World, the state-owned investor that holds 80 percent of DP World’s shares, restructured $25 billion of debt this year after investing in property and buying assets across the world.
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