Emirates Steel secures $1.3bn loan
11/06/2014 12:11 am EDT

share with your network:

Abu Dhabi’s Emirates Steel has said it has secured $1.3bn in credit facilities from 19 local and foreign banks, Reuters has reported. The funds will be used to refinance an existing $1.1bn facility and purchase assets, the company said. Emirates Steel plans to spend $263m on acquiring steel assets from its parent General Holding Corp (Senaat), an Abu Dhabi state holding company, as part of a consolidation designed to make the firm more competitive.

About the Author

share with your network:

Share your view

© 1996-2016 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2016 Dubai Business | Ameinfo . All rights Reserved.