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Emirates Steel raises $1.1bln in project finance

Posted on 27 August 2010

From Gulfnews.com: Emirates Steel said Wednesday it raised $1.1 billion (Dh4 billion) in project finance, an indicator that regional banks are easing credit to select government-related entities. The firm said it signed a seven-year project financing agreement with a consortium of seven conventional banks and two Islamic finance institutions.
“The project finance debt was raised through a $367 million Islamic facility and a $733 million conventional facility, each of seven-year tenure,” Emirates Steel said in a statement……………………………………….Full Article: Source

 
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