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Dubai: Dubai-based jewellery retailer Joyalukkas has roped in
Standard Chartered Bank (UK), Emirates NBD and Bank of Bahrain and
Kuwait (BBK) to sign a Dh367 million syndicated loan to spearhead a
massive expansion of its retail network of jewellery stores, Gulf News
has learnt.
Standard Chartered Bank is the arranger and facility agent of the syndication that includes a $75 million (Dh275.4 million) term loan for five years and $25 million as working capital.
"We are planning to sign the deal on Sunday with the lenders," a source told Gulf News.
"The $25 million working capital will be used for general expenses and the rest for expansion."
Source: http://gulfnews.com/business/retail/joyalukkas-to-use-100m-syndicated-loan-for-expansion-1.981508
Standard Chartered Bank is the arranger and facility agent of the syndication that includes a $75 million (Dh275.4 million) term loan for five years and $25 million as working capital.
"We are planning to sign the deal on Sunday with the lenders," a source told Gulf News.
"The $25 million working capital will be used for general expenses and the rest for expansion."
Source: http://gulfnews.com/business/retail/joyalukkas-to-use-100m-syndicated-loan-for-expansion-1.981508