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04-01-14

Dubai Group to repay USD300m loan

(MENAFN) Dubai Group, which has been seeking payment relief on loans for three years, has repaid a USD300 million syndicated facility led by Citigroup Inc. Arabian Business reported. The repayment follows Dubai Group"s sale of Dubai First to an Abu Dhabi-based back in mid-2013. It has been reported that the final documentation for a deal between Dubai Group and its remaining creditors is being prepared and could be paid soon.