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Sovereign Wealth Funds Briefing - Categorized | Financials

Investment Corp of Dubai plans $2 bln loan to repay debt

Posted on 19 March 2013

Investment Corporation of Dubai, the emirate’s main state-owned holding company, said it plans to raise $2 billion from a syndicated loan to refinance debt.
The facility will include both conventional and Islamic portions and have a tenor of five years, the company, known as ICD, said in an e-mailed statement today. The funds will go toward repaying the $2 billion five-year portion of an original $6 billion loan raised in August 2008, ICD said. That facility’s $4 billion three-year tranche was settled in August 2011………………………………………..Full Article: Source


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