Majid Al Futtaim raises $1 billion revolving credit facility

DUBAI: Dubai’s Majid Al Futtaim, a company that owns and operates shopping centres in the Middle East and North Africa, has raised a $1 billion (Dh3.67 billion) loan from a group of regional and international banks, the firm said in a statement.

The loan, a revolving credit facility, has a six-year maturity and refinances an $800 million loan raised in 2014 for general corporate purposes.

First Abu Dhabi Bank coordinated the deal and it was mandated lead arranger together with Commercial Bank of Dubai, Gulf International Bank, HSBC Bank Middle East, Standard Chartered Bank and Union National Bank.

(Reuters)