Dubai-based theme parks operator, DXB Entertainments, reached an agreement for a loan on September 20, Invest-Gate reports.

The company took out a AED 245 mn subordinated loan, to be drawn down immediately, from its majority shareholder, Meraas, a company statement read.

The loan will take the form of an interest bearing unsecured subordinated shareholder loan with no fixed maturity.

DXB Entertainments, owner of Dubai Parks and Resorts, will use the loan to fund operational expenses and debt repayments.