Dubai-Mubasher: Dubai Parks and Resorts has secured AED 993 million ($270 million) debt financing to fund part of its programme to add a Six Flags theme park to its entertainment assets, according to a recent statement.
The debt funding will be allocated by Abu Dhabi Commercial Bank, Dubai Islamic Bank, and Sharjah Islamic Bank.
The DFM-listed firm is planning to raise AED 2.67 billion for funding the development of Six Flags Dubai, through a combination of debt and equity funding.
“The debt portion accounts for approximately 37% of the total financing being raised,” the statement added.
Dubai Parks will hold an ordinary general meeting on 18 April to vote on raising the capital through a proposed rights issue to increase the remaining AED 1.68 billion 2016, the company noted in the statement.
