DIFC Investments (DIFCI) has secured a loan of a $1.035bn from a syndicate of banks to help pay off an Islamic bond that matures on 13th June 2012. The investment unit of Dubai’s financial free zone agreed the deal with a group of mainly local banks backed by the group’s property portfolio.
The transaction is a dual tranche Islamic facility and includes both Commodity Murabaha and Ijarah tranches. The Mandated Lead Arrangers and Bookrunners of the $1.035bn dual tranche five - year Islamic Facility are Emirates NBD, Standard Chartered Bank, Dubai Islamic Bank and Noor Islamic Bank. (Press Release)