Limitless, the global master development arm of Dubai World, is launching a US$1.2 billion syndicated loan as part of its funding strategy for current and future international projects, it was disclosed today (Sunday).
The company will raise the money through a 10-day international roadshow during which it will present to around 100 banks and financial institutions. The tour, led by Limitless CEO Saeed Ahmed Saeed, begins in Dubai today, and will also cover Singapore, Kuala Lumpur and London.
Limitless has teamed up with Emirates Bank, an Emirates NBD company and Emirates Islamic Bank who will act as initial lead arrangers for the 2 year loan.
Limitless currently has global projects worth over US$100 billion in five countries, with many more to be announced this year.
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