DIFC Investments gets US$1 billion facility to repay Islamic bond
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Mon June 4, 2012 9:41 am

UAE. DIFC Investments LLC, which owns properties in Dubai's financial center, obtained a US$1.035 billion syndicated facility to repay a US$1.25 billion Islamic bond due this month.

The dual-tranche Islamic facility includes both a commodity murabaha and an ijarah part, DIFC Investments said in a statement to Nasdaq Dubai today.

The facility is priced at 380 basis points above Eibor/Libor and is backed by DIFCI’s property portfolio.

Emirates NBD PJSC (EMIRATES), Standard Chartered Plc (STAN), Dubai Islamic Bank PJSC (DIB) and Noor Islamic Bank arranged the facility, while Moelis & Co. acted as financial adviser.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 1, 2014
UAE. The Middle East's top brands have grown by an average of 38%, according to The Brand Finance Middle East 50; This brings the total value of the top 50 above US$50 billion for the first time; Emirates holds the top spot and remains far ahead of the rest.
date:Posted: September 1, 2014
SAUDI ARABIA. Consumer spending also remained robust; Non-oil exports rebound owing to greater production of petrochemicals and plastics.
date:Posted: September 1, 2014
INTERNATIONAL. Oil markets since 2011 have become less price sensitive to actual supply disruptions, especially to those geopolitical events that have taken place since the Arab Spring.
UAE. The Middle East's top brands have grown by an average of 38%, according to The Brand Finance Middle East 50; This brings the total value of the top 50 above US$50 billion for the first time; Emirates holds the top spot and remains far ahead of the rest.
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