Published: April 10, 2012
HSBC and Citi join leading regional names to arrange US$1.1bn package.
Dubai Duty Free, which runs duty free shops in Dubai International Airport, has mandated regional and global banks to manage its first international fund raising.
The company has hired Citibank, Dubai Islamic Bank, Emirates NBD Capital and HSBC to a loan worth USD1.1bn. Along with these coordinators, Abu Dhabi Commercial Bank has committed to the deal as a mandated lead arranger.
The funding will include a conventional term loan and Islamic facilities, used to optimise the group’s capital structure ahead of expansion.