The loan, arranged by Bank of America Merrill Lynch and Emirates NBD Capital, launched at US $1.25 billion (881.71 million pounds) but could be increased to as much as US$1.5 billion (1.06 billion pounds), the sources said.
Proceeds of the deal will refinance an existing US$800m loan that matures in December. That deal was signed in December 2013 and priced at 140bp over Libor, according to Thomson Reuters LPC data.
The bank group for the deal comprised Bank of America Merrill Lynch, BNP Paribas, Commerzbank, Deutsche Bank. HSBC, ING, Societe Generale and Standard Chartered.
Emirates NBD did not immediately respond to a request for commment.
(Additional reporting by David French in Dubai; Editing by Christopher Mangham)
By Sandrine Bradley
