The financing extends for a tenor of five years six months and it will be utilised to repay the existing Sukuk of $300 million maturing in February 2019.
Thursday 31, January 2019 BY KUDAKWASHE MUZORIWA
Dubai Investments Park (DIP) has signed a $300 million bilateral term loan facility with Emirates NBD, according to local newswire, WAM.
Omar Al Mesmar, the General Manager of DIP, said, “Given our robust business model and strong relationship with local financial institutions, we have assessed that it is currently competitive to refinance the existing Sukuk through a bilateral facility provided by Emirates NBD.”
As a business destination, Dubai Investment Park offers industrial facilities for small, medium, and large-sized enterprises as well as a wide array of warehousing and a large space for staff accommodation.
Al Mal Capital acted as the financial advisor on the transaction.