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: May 25, 2017
UAE. Over 25% of successors think they will lose market share to new entrants; Quicker than ever, the past is being left behind - a tendency that in the perception of many goes against the tradition of family-owned businesses.
date:Posted: May 25, 2017
UAE. 88% of executives surveyed in the Gulf region experienced a fraud incident in the past year compared to 62% in 2015, according to the Kroll Annual Global Fraud and Risk Report - the highest increase of any region.
date:Posted: May 18, 2017
UAE. 2020 Expo key to 'lukewarm' construction market in UAE with costs forecast to rise by 2% in 2017; Rest of the region including Qatar and Oman seeing construction slowdown and stable costs, reflecting oil prices.
dhgate