Atlantis closes $880m syndicated loan

Dubai’s iconic island resort, Atlantis, The Palm, has closed an $880 million syndicated loan, a $30 million increase from its original $850 million target, according to banking sources.

The loan was provided by a group of seven local and international banks comprising Barclays, HSBC, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, Commercial Bank of Dubai, Union National Bank and Emirates NBD, the bankers said.company Istithmar.

Luxury hotel chain Jumeirah Group, part of Dubai Holding, is also in the market for a six-year $1.4 billion loan, priced at 275 bps.-Reuters

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