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: December 6, 2016
UAE. Knowledge Summit 2016: "Over 2 billion jobs will disappear by 2030 and that is the hidden results of our rapid technology growth. But, if we understand all these hidden consequences we can create jobs at a much higher rate".
date:Posted: December 5, 2016
UAE. Succession planning is the biggest challenge in the next five years; Middle East family businesses need to grow in double digits every year to sustain the family's intergenerational wealth; Slow or no progress on strategic planning could impact growth.
date:Posted: December 4, 2016
SAUDI ARABIA. Despite experiencing 30% growth in the last five years, e-commerce upside potential in the Kingdom of Saudi Arabia remains huge according to a BCG report.
dhgate