VOL. XLI
No. 29
20-July-1998
UAE
Dubal Signs $150Mn Loan
The Dubai Aluminium Company (Dubal) on 12 July signed a $150mn loan with London-basedBarclays Bank to part finance its $724mn project, known as the Condor Project, launched inearly 1998 to expand the capacity of its smelter at Jebel Ali by 35% (MEES, 2March). The loan, to be repaid in four semi-annual installments starting in June 2001, ispriced at 25 bps above Libor and can be drawn down until 31 December 1999, according to Reuters....
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