UAE’s Gulf Finance Corp to raise up to Dhs 600m syndicated loan

Gulf Finance Corp, a unit of Dubai’s Shuaa Capital, plans to raise up to Dhs 600m ($163 million) in syndicated loans this year, its chief executive said on Tuesday.

The company will tap the loan market between the third and fourth quarters, and may raise between Dhs 200m and Dhs 600m, David Hunt told Reuters on the sidelines of a conference.

Gulf Finance provides finance to small and mid-sized firms in the United Arab Emirates.