Dubai-based GEMS Education raises $150 million debt

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Dubai-based, GEMS Education, raises, $150 million debt,

Dubai - GEMS, which owns and operates more than 50 schools in the UAE, Qatar and Egypt, sold $900 million in bonds last year.

By Reuters

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Published: Tue 4 Aug 2020, 4:15 PM

Last updated: Tue 4 Aug 2020, 11:39 PM

Dubai-based GEMS Education has raised $150 million in incremental financing to support its working capital, it said in a statement on Tuesday, August 4.
A source had earlier told Reuters that the company is in talks with several banks and advisory firms to explore options to shore up its balance sheet, including a share or debt issuance.
GEMS, which owns and operates more than 50 schools in the UAE, Qatar and Egypt, sold $900 million in bonds last year.


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