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Hogan Lovells has advised Standard Chartered Bank, Emirates NBD, and Mashreq Bank on a 500 million dirham ($136 million) financing for jewellery retail chain Joyalukkas Group.

Joyallukkas, which more than 40 locations in the UAE, secured the loan through multiple banking arrangements, including an $80 million term loan with a five year tenor. The Dubai-based chain said the new financing would be used to refinance and reduce borrowing costs based on the prevailing Libor rates.

Hogan Lovells’ team, led by Dubai-based finance partner Rustum Shah, advised all the lenders.

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