Dubai’s Majid Al Futtaim Holding has secured a $1 billion loan to refinance debt, Reuters reports. The financing consists of a three-year revolver facility and a five-year term loan. The proceeds will be used to refinance a $1 billion syndicated loan, which will mature in July 2012, as well as to provide extra liquidity for the sole franchisee of hypermarket chain Carrefour in the Gulf. Barclays Bank, Credit Agricole, Emirates NBD and Standard Chartered were the lead arrangers for the loan.
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