Dubai's Port & Free Zone World (PFZW), the direct owner of global ports operator DP World, has signed an $850 million loan refinancing, banking sources said on Tuesday.

The deal, which replaces a $1.15 billion facility which matures this month, was signed by 15 banks in total and was split almost evenly between a conventional tranche and a sharia-compliant piece.

State-owned conglomerate Dubai World is the parent company of PFZW, which owns 80.5 percent of DP World.  - Reuters