Tuesday 2 September 2014
 
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LIBOR

Dubai Duty Free repricing $1.75bn loan

Airport retailer Dubai Duty Free (DDF) is set to reprice a $1.75 billion, six-year syndicated loan that signed in July 2012, banking sources close to the deal said.   The ori

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Libor likely to be replaced by dual-track system

A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor as soon as next year, the Financial Times reported on its website on Sunday.

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How gold, silver prices are 'fixed'

  London's gold and silver markets face the possibility of a probe into price setting, putting a century-old practice under the spotlight after the Libor rigging scandal that exposed widespread interest rate manipulation by b

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United Arab Bank obtains $125m club loan

Sharjah-based United Arab Bank has secured a club loan worth $125 million for general corporate purposes, a company statement said on Wednesday. The two-year facility, which can be extended to three years, was signed at a margin o

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How UBS manipulated interest rates

  Swiss bank UBS has been fined $1.5 billion by British, Swiss and US regulators to settle charges of manipulating global benchmark interest rates.   UBS said on Wednesday it will pay $1.2 billion t

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UBS admits fraud; bank fined $1.5bn

  Swiss bank UBS was hit with a $1.5 billion bill and admitted to fraud on Wednesday in order to settle charges of manipulating global benchmark interest rates.   The penalty agreed with US, UK and

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UBS faces $1bn fine for UK Libor rigging

Swiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the London interbank offered rate (Libor) interest rate benchmark, a person familiar with the situation said. Such a penalty would be more than

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UK watchdog delivers new plan to fix Libor

Britain's top financial watchdog delivered a 10-point plan to fix Libor but stopped short of scrapping the benchmark interest rate in a much-awaited reform of a system plagued by scandal. "The system is broken and needs a

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Nakheel offers lenders repayment after 4.5 years

Dubai-based developer Nakheel, restructuring $10.9 billion in debt, has offered lenders repayment after four and a half years at a rate of 4 percent on a portion of its debt, sources familiar with the deal said. The terms of the restructur

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Qtel seeking to refinance $2bn loan

Qatar Telecom (Qtel), the leading telecom services provider in Qatar, is signing a group of senior banks into a $2 billion loan that will reduce its borrowing costs, banking sources said. Qtel is refinancing a $2 billion for

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