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 18, 2014
INTERNATIONAL. World Bank report spells out the repercussions of the political uncertainty and restrictions on movement and access and recommends remedial actions by all parties.
date:Posted: September 18, 2014
EGYPT. Qalaa Holdings' Hisham El-Khazindar discusses Egypt's economic prospects at Euromoney Conference.
date:Posted: September 17, 2014
UAE. "Building a sound, robust investment environment is crucial for boosting institutional investor confidence in the regional markets."
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."
dhgate