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|16 October, 2018

Dubai's DP World amends terms of $2 billion "green" loan

The loan pricing is linked to DP World's carbon emission intensity as a way to incentivise the company to reduce its greenhouse gas emission

Image used for illustrative purpose. A ship is moored as its containers are unloaded at the Jebel Ali port in Dubai June 27, 2006.

Image used for illustrative purpose. A ship is moored as its containers are unloaded at the Jebel Ali port in Dubai June 27, 2006.

REUTERS/Regi Varghese

DUBAI - Dubai port operator DP World has repriced and extended the maturity of a $2 billion "green" loan comprising conventional and Islamic revolving credit facilities, Standard Chartered said.

A total of 19 banks provided the facility, which was extended by two years and was now due in 2023, said the bank which is coordinating the transaction.

The loan pricing is linked to DP World's carbon emission intensity as a way to incentivise the company to reduce its greenhouse gas emission.

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(Reporting by Davide Barbuscia Editing by Edmund Blair) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))