DPW DP World

Dubai-based ports operator DP World (DPW.NDB) has started talks with banks for a $1.5 billion loan to help repay half of a $3 billion credit facility maturing in October, Bloomberg News reported Friday on its website, citing an unnamed source.

DP World is in talks with HSBC Holdings PLC (HBC), Standard Chartered PLC (SNTDF) and Citigroup Inc. (C), the report quoted the source as saying. The company will pay the remaining $1.5 billion with its own cash, the report added.

A DP spokeswoman couldn't be reached for comment, while officials for HSBC, Standard Chartered and Citigroup in Dubai declined comment, the report said.

Full Story: http://www.bloomberg.com/news/2012-02-09/dp-world-said-to-be-seeking-loan-to-help-repay-half-of-3-billion-facility.html