Arab Today, arab today ddf in 11b loan deal to fund expansion
Last Updated : GMT 16:13:04
Arab Today, arab today
Arab Today, arab today

DDF in $1.1b loan deal to fund expansion

Arab Today, arab today

Arab Today, arab today DDF in $1.1b loan deal to fund expansion

Dubai - Arabstoday

Dubai Duty Free, or DDF, said on Monday that it was making its maiden foray into the global financing market to raise $1.1 billion to support the ongoing Dh28 billion expansions at Dubai International Airport. DDF said it has mandated a number of institutions to broker the loan made up of Islamic and conventional finance. The institutions that will arrange and coordinate its debut international transaction include Citibank, Dubai Islamic Bank, Emirates NBD and HSBC. Abu Dhabi Commercial Bank has pre-committed as a mandated lead arranger and bookrunner. In a statement, DDF, the world’s leading airport retailer, said the financing drive was to optimise its capital structure in order “to support the further development at Dubai International Airport.” DDF, a division of the Investment Corporation of Dubai, is the exclusive operator of duty free shops and seller of goods exempt from duty at the airports in Dubai. The syndication was launched on April 5 with banks invited to commit in US dollars and/or UAE dirhams. DDF is hosting a management presentation in Dubai during the week. DDF, the sole duty free operator at the departure and arrival areas of all terminals at Dubai International Airport, or DIA, which is the fourth busiest airport globally in terms of international traffic, has grown to become the largest single airport travel retailer in the world, accounting for five per cent of airport shop sales and 3.2 per cent of the wider duty free and retail global business (which includes airports, airlines, ferries, border shops and other outlets) in 2010. For 2011, DDF generated revenues of Dh5.3 billion. DDF, as part of its expansion, will add a further 8,200 square metres of retail space in the new Concourse 3 at Dubai International Airport, which is forecasting passenger traffic in 2012 of 56.5 million, far ahead of the 51 million recorded in 2011. Currently, DDF operates across 18,000 square meters of retail space and sells to around 47 per cent of all DIA passengers and on average, handles 61,400 transactions per day. In the first quarter of 2012, DDF posted 14 per cent surge in sales to Dh1.42 billion, signalling a positive year ahead for the retailer, which is on track to achieve a full year sales target of Dh6 billion. “We have had a very good start to the year and are very much on track for our sales forecast of Dh6 billion. Terminal 3 continues to be the biggest in terms of accumulative sales and accounts for almost 58 per cent of our total turnover. However, the average spend of passengers in Terminal 1, which accounts for 35 per cent of sales, is higher,” Colm McLoughlin, executive vice-chairman of Dubai Duty Free, had said in a statement.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ddf in 11b loan deal to fund expansion Arab Today, arab today ddf in 11b loan deal to fund expansion

 



Arab Today, arab today
Arab Today, arab today Rabia Fatima reveals role of "Facebook" in her career

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday