Majid Al Futtaim raises $1b loan

Dubai’s Majid Al Futtaim, a company that owns and operates shopping centres in the Middle East and North Africa, has raised a $1 billion (Dh3.67 billion) loan from a group of regional and international banks, the firm said in a statement.

The loan, a revolving credit facility, has a six-year maturity and refinances an $800 million loan raised in 2014. First Abu Dhabi Bank coordinated the deal and it was mandated lead arranger along with other banks. (Reuters)