Saturday, May 04, 2013
BEIRUT (Zawya Dow Jones)--Saudi-based Kingdom Holding Co. (4280.SA) said on Saturday that its 50% owned U.K. subsidiary Breezeroad Ltd. has signed an agreement to re-finance existing debt with a new five-year loan of GBP200 million.
Kingdom Holding, an international investment firm mainly owned by Saudi billionaire Prince Alwaleed bin Talal, said that the agreement was signed with France-based Credit Agricole Corporate and Investment Bank and Germany's DekaBank Deutsche Girozentrale.
Breezeroad had previously used the debt to acquire The Savoy Hotel in London, the company said in a statement posted on the Saudi bourse website.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
04-05-13 1028GMT
