Islamic Finance 

Dubai’s DP World amends terms of $2 billion "green" loan

| 16 October, 2018
Dubai’s DP World amends terms of $2 billion "green" loan
Photo: A truck leaves DP World Jebel Ali Port in Dubai, November 26, 2009. REUTERS/Steve Crisp

OCTOBER 16, 2018 | 3:26AM EDT | DUBAI

Dubai port operator DP World has repriced and extended the maturity of a $2 billion “green” loan comprising conventional and Islamic revolving credit facilities, Standard Chartered said.

A total of 19 banks provided the facility, which was extended by two years and was now due in 2023, said the bank which is coordinating the transaction.

The loan pricing is linked to DP World’s carbon emission intensity as a way to incentivise the company to reduce its greenhouse gas emission.

(Reporting by Davide Barbuscia Editing by Edmund Blair)

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