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Dubai's Nakheel to borrow USD 1.36bn loan
(MENAFN) Dubai developer Nakheel is looking to borrow USD 1.4bn from banks, which would be its first try to fund sizeable debts since it almost fall at the turn of the decade.
However, the firm at the middle of debt crisis in Dubai in 2009 after a fall in real estate prices will discuss with small group of banks regarding the financing.
Moreover, the owner of the firm asked banks to offer it with potential pricing if it borrowed for 8 to 10 year terms.
Nakheel is looking to tap budget markets as the cost of borrowing in the Gulf is predicted to move higher in coming months, because of declining banking sector.
However, the firm at the middle of debt crisis in Dubai in 2009 after a fall in real estate prices will discuss with small group of banks regarding the financing.
Moreover, the owner of the firm asked banks to offer it with potential pricing if it borrowed for 8 to 10 year terms.
Nakheel is looking to tap budget markets as the cost of borrowing in the Gulf is predicted to move higher in coming months, because of declining banking sector.
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