Borse Dubai gets $5.8b for acquisitions

Dubai: Borse Dubai Ltd, which offered to buy OMX AB, agreed to $5.8 billion of loans with a group of international banks to help pay for the acquisition and the shares of London Stock Exchange Group Ltd it plans to purchase.

Borse Dubai got two one-year loans, one for $4.2 billion and the other for $1.6 billion, from a group of six banks led by HSBC Holdings Plc, data compiled by Bloomberg show.

Bank of Tokyo-Mitsubishi UFJ Ltd, Barclays Capital, Citigroup Inc, Emirates NBD PJSC, and Goldman Sachs Group Inc joined HSBC in the loan.

Borse Dubai Chief Executive Officer Per Larsson in October said HSBC would manage the borrowing.

Borse Dubai and Nasdaq Stock Market Inc, once rivals for control of Nordic exchange OMX, agreed in September that Dubai would proceed with its bid and then hand the shares to Nasdaq.

In return, Nasdaq would give almost 20 per cent of its stock to Borse Dubai and sell it a 28 per cent holding in London Stock Exchange.

Larsson on November 20 said he expected to close Borse Dubai's $4.9 billion OMX acquisition by the end of February. He didn't answer a call to his cellphone yesterday seeking comment.

Nasdaq first announced its intention to buy OMX in May, then struck a complicated deal with the state-owned Borse Dubai to jointly acquire OMX, creating a global group of exchanges connecting the United States, Europe, the Middle East and Asia.