DP World in talks with banks for $3b loan - sources

Dubai: Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate, banking sources told Reuters on Thursday. The firm, part of state-owned conglomerate Dubai World , is aiming to raise the loan to $3 billion, four banking sources said, speaking on condition of anonymity.

The original revolving credit facility was signed in April 2012 and has already been renegotiated once, adding a year to the lifespan in June 2013.

“We undertake a regular annual review of our banking facilities as part of active financial management,” a spokesperson for DP World said when contacted by Reuters.