Emal signs long-expected jumbo smelter deal

Dubai Aluminium and Mubadala has signed a $3.4bn multi tranche loan for their Emirates Aluminium (Emal 2) aluminium smelter.

  • 28 Mar 2013

The loan is split between a $2.925bn conventional bank loan, a portion of which includes export credit agency (ECA) insurance, and a $475m Islamic finance facility.

Lenders were given their allocations for the loan on Friday, March 22. Commitments were scaled back after demand left the deal oversubscribed.

The loan ...

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