| From Albawaba.com: Al hilal bank, the UAE's Islamic bank, announced that it has been appointed as an Islamic Term Arranger for the Emirates Steel Industries PJSC's Islamic Tranche of its $1.1 billion Project Financing deal.
The financing deal comprised of a $733 million limited-recourse facility from seven conventional banks and a $367 million Ijara (lease) facility from two Islamic banks, al hilal bank's participation in the deal is of USD 117 Million. Funds will be utilised to finance ESI's capital expenditures for its expansion plans for additional manufacturing facilities.............................................Full Article: Source
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