DIC pays up in new $550m deal launch

Dubai International Capital, the international investment arm of Dubai Holding, has launched a $550m syndicated loan. Mashreq Bank, Noor Islamic Bank, Royal Bank of Scotland and Standard Chartered are arranging the deal, which, in a sign of investors’ continuing nervousness about Dubai’s debt-laden government-owned entities, is thought to be paying about 500bp.

  • 15 Oct 2009
Bankers close to the facility said the borrower intends to take a full increase if there is an oversubscription. “They’re going to take whatever they get,” said one. “The pricing does not surprise me. Dubai has given quite a few investors headaches in the last 18 months. But ...

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3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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