(MENAFN) Dubai's operator of Carrefour stores in the Middle East Majid Al Futtaim (MAF) planned to save USD500 million to replace revolving loans, according to Gulf Daily News.
The mall operator will replace revolving loans, which stand at USD1 billion, by using a USD1.5 billion facility that was a part of the hybrid bond taken from a corporate lender.
The company's revolving loans will expire in 2014 while the term loan will expire in 2016.
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