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.