Port & Free Zone World (PFZW) $1.1 billion refinancing

Overview:

• Ports & Free Zone World (PFZW) has taken out $1.1 billion in new financing.
• The conventional and Islamic funds will be used to refinance the company's existing debt.
• Citigroup, Emirates NBD and HSBC acted as arrangers. Dubai Islamic Bank, Barwa Bank, Commercial Bank of Dubai, Mashreq Bank, Noor Bank, Standard Chartered and Union National Bank were the other lenders.
• The deal forms part of the wider $14.6 billion Dubai World restructuring.

Sam Duke - Editor