ABU DHABI: Abu Dhabi state-owned investment fund Mubadala is talking to banks to raise a loan worth up to $2 billion, which it plans to close in the first half of the year, banking sources aware of the matter told Reuters on Thursday.
The company is in talks with local and international lenders regarding the financing, two of the sources said, adding that Mubadala was discussing whether to borrow the cash over three or five years or split the financing between both.
The funding will be used to roll over a three-year revolving credit facility, two sources said, which had been in place since 2007, according to one of the sources.
The fund has a $2 billion facility due to mature in May which was provided by 19 banks and pays a margin of 75 basis points over the London interbank offered rate (Libor), according to Thomson Reuters data.
Mubadala, which owns stakes in global companies such as chipmaker GlobalFoundries and U.S. private equity firm Carlyle, declined to comment when contacted by Reuters.
