Borse Dubai has launched syndication of a $2.5 billion (Dh9.18bn) loan that will refinance the company's $3.78bn loan agreed in March 2008 to back its acquisition of Nordic exchanges group OMX, banking sources close to the deal said.
HSBC is co-ordinating the one-year deal, which includes a one-year extension option. The margin is 325 basis points (bps) over Libor, with an additional fee of 75 bps if the borrower opts to extend.
Banks are invited to commit $100 million for an upfront fee of 105 bps, $75m for 90 bps, $50m for 70 bps, or $30m for 55 bps. Lenders are invited to commit in dirham, euro or dollar, and talks are going on to include an Islamic tranche, all of which widens the pool of liquidity, one of the bankers said.