27.08.2010 - Emirates Steel raises $1.1bln in project finance
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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