Dubai lands $800m infrastructure loan
Dubai’s department of finance has mandated the Commercial Bank of Dubai, Citi, Dubai Islamic Bank and Emirates NBD to arrange an $800m dual-currency six year loan.
The facility will be launched into syndication and will comprise a conventional and Islamic tranche. The debt will finance the emirate’s transport infrastructure projects and will be repaid using revenues from the Salik tollroad.
Salik is owned by the Roads and Transport Authority of Dubai.