Arab Today, arab today emaar using malls to raise 800m loan
Last Updated : GMT 04:33:33
Arab Today, arab today
Arab Today, arab today

Emaar using malls to raise $800m loan

Arab Today, arab today

Arab Today, arab today Emaar using malls to raise $800m loan

Dubai - Arabstoday

Dubai\'s Emaar Properties, builder of the world\'s tallest tower, is using four of its shopping malls including the Dubai Mall as collateral for an $800m two-tranche loan, banking sources have said. The facility, which consists of a five-year tranche and an eight-year amortising loan, is being arranged by Dubai Islamic Bank, National Bank of Abu Dhabi and Standard Chartered, four sources told Reuters. Emaar, the Gulf\'s largest listed developer, is using four of its Dubai malls as collateral for the deal, two of the bankers said. Dubai Mall, one of the world\'s largest malls, with an indoor Olympic ice skating rink and a two-storey high aquarium, is on the list, as are Dubai Marina Mall and the Gold and Diamond Park shopping centre, the sources said. However, Emaar, builder of the world\'s tallest building, the Burj Khalifa tower, said in an emailed statement that the report was \"categorically incorrect\". \"Emaar continuously explores various options for raising finance to meet our long-term development plans, including refinancing of debts,\" it said. \"Such details regarding our financing plans will be disclosed at the appropriate time.\" Emaar last raised money from banks in May, when it signed a $700m sharia-compliant forward start facility which extended the maturity of part of a $1bn facility due to expire in February 2012 until May 2014. A forward-start facility is a loan provided by an group of lenders that agree to provide new funding upon the maturity of an existing loan. Not all members of the existing lending group are required to join up under a forward start. Emaar raised $500m from an Islamic bond in January. Emaar\'s second-quarter net profit plunged 69 percent as it handed over fewer homes and wrote off its investments in Dubai Bank, the developer said in July. On Monday, Standard & Poor\'s raised its outlook on the firm from negative to stable on account of recurring cash flow generation and the improving performance of Emaar\'s hospitality assets. It affirmed Emaar\'s \'BB\' rating at the same time.

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 emaar using malls to raise 800m loan Arab Today, arab today emaar using malls to raise 800m loan

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
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
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
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 Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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