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DP World In Talks With Banks For $3 Billion Loan – Sources

Reuters
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April 25, 2014

The 13,082-teu Hyundai Tenacity called on the new quay at DP World’s Southampton terminal in early March, image: DP World

reuters logoDUBAI, April 24 (Reuters) – 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 as the information isn’t public.

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. (Reporting by David French; Editing by Mark Potter)

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