Abu Dhabi's Aabar Investments has begun talks with lenders about refinancing a $2 billion loan due to mature in May, three banking sources told Reuters on Thursday.
The firm, which owns a stake in commodities trader Glencore and is the largest shareholder in Italian bank UniCredit , has sent out a request for proposals (RFP) asking banks about options for renewing the existing facility.
Details about the structure of the new deal are still being worked out, although one London-based banker hinted it could be self-arranged by Aabar and have a similar structure to the current deal. The three sources spoke on condition of anonymity as the information is not public.
Read more: http://www.zawya.com/story/Abu_Dhabis_Aabar_seeks_USD2bn_loan_refinancing__sources-TR20130214nL5N0BEBD92/
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