UAE's Nakheel emerges with $6.5bn of loans

Nakheel, a United Arab Emirates property development company with close ties to the Dubai government, will agree a $1.5bn bridge loan early next week, as part of an ambitious international funding strategy that will also include two $2.5bn syndicated loans.

  • 21 Jul 2006

The $1.5bn bridge facility will be taken out by a capital markets issue later in the year, most likely a sukuk, EuroWeek understands.

Nakheel is the company behind Dubai's man-made island projects, such as the Palm Jumeirah, but has never borrowed in its own name on anything like this ...

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