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Gems Education, one of the world's biggest operators of private schools, raised a $250 million loan to build new schools in the Gulf Cooperation Council member states and other countries, according to two people with knowledge of the deal.
The Dubai-based company obtained the three-year loan in dollars and dirhams, more than 80 percent of which will be paid at maturity and the remainder over the loan's life, the people said, asking not to be identified because the information isn't public. The loan is priced at 480 basis points, or 4.8 percentage points, over the benchmark rate, they said.
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