Dubai – Mubasher: The Dubai-based GEMS Education on Monday announced that it had obtained a $1.25 billion loan to refinance present loans and to support future growth.
The company drew $900 million from the seven-year loan, GEMS Education revealed, according to Reuters.
A consortium of Abu Dhabi Islamic Bank, Emirates NBD Capital, HSBC Bank Middle East, Mashreq Bank and Noor Bank acted as the underwriters of the loan, GEMS Education added.
“The new loan includes a $250 million five-year revolving credit facility,” the international education provider concluded.
