Middle East Loans
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The United Arab Emirates' national airline Etihad Airways has signed a $359m equivalent Islamic financing facility to buy two Boeing aircraft. -
Dubai private education provider GEMS Education has signed a Dh2bn ($544.5m) six year loan split between Islamic and conventional financing.
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Saudi Hotels and Resorts Co (Sharco) has signed a murabaha financing agreement worth SR50m ($13.3m) with Riyadh Bank.
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Saudi Arabian Mining Company (Ma’aden) has signed an oversubscribed SR9bn ($2.34bn) five year murabaha facility after launching the deal at SR7bn in June.
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The Dubai office of international law firm Norton Rose has advised a syndicate of fourteen banks in relation to a senior unsecured US$900 million syndicated facility for First Gulf Bank PJSC (FGB). The facility is the largest loan market transaction undertaken by a financial institution in the UAE this year and is to be used by FGB for its general corporate purposes, including the expansion of its existing operations as well as its growing global footprint.
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Abu Dhabi and its companies were the centre of attention for Middle East investors this week, after it emerged that the emirate’s authorities recently approved a new policy to rein in borrowing by its deeply indebted government related entities.
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London, 26th September 2012: Bank of London and The Middle East plc, Europe’s largest Islamic bank, announces a significant senior secured transaction with Greenergy Biofuels Limited. BLME acted as lead arranger, with BLME and a Qatari-based bank having equal stakes. The facility is secured against the assets of a biodiesel plant in Immingham, Humberside, UK.
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Source: Tegara Net A banking consortium clinched a deal to arrange EGP 300 million Islamic financing for Emaar Misr, which will go for repaying the developer's outstanding liabilities.
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Source: Nation Multimedia Group Public Company Ltd.
