DP World splashes cash on loan repayment
Cash-rich DP World is to repay a $3bn loan outstanding under its revolving credit facility due to mature in October 2012. The repayments will take place between 4 and 10 April 2012.
As at December 31, 2011, DP World had $4.2bn of cash balances including cash flow generated from its portfolio of global terminals and the proceeds of the monetisation of the five terminals in Australia.
After the $3bn repayment, the operator will have reduced its total debt to approximately $4.7bn and have cash balances of approximately $1.2bn.
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