Mubadala teases lenders with $1.2bn Sowwah loan

Lenders are being sounded on a transaction of up to $1.2bn to back the development of Abu Dhabi’s Sowwah Island sponsored by state-owned investment company Mubadala. The project, part of Plan Abu Dhabi 2030 to develop the city and create a new central business district, involves the construction of Sowwah Square, where the emirates’ securities exchange will be based.

  • 24 Jun 2009
Royal Bank of Scotland is understood to be co-ordinating the financing, and lenders have received teasers about the transaction. It will have a seven year tenor with a maximum size of $1.2bn. Pricing will be decided after feedback from lenders, when the structure of the deal will also ...

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