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: November 25, 2014
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
date:Posted: November 25, 2014
BAHRAIN. The "increasingly deregulated and competitive economic environment is facilitating rapid growth in business development within the private sector."
date:Posted: November 25, 2014
INTERNATIONAL. Participants in the global oil market are eagerly awaiting the Opec meeting on November 27, which could potentially set the tone and the direction of oil prices.
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
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