FINANCIAL NEWS

Dubai- DIFCI secures USD1.03b loan

04 Jun 2012

(MENAFN) DIFC Investments (DIFCI) stated that it has secured a USD1.03 billion loan that will assist the company in repaying its USD1.25 billion Sukuk, reported Emirates 24/7.

The investment unit of the firm that manages Dubai’s financial free zone added that the dual tranche Islamic facility consists of both commodity murabaha and ijarah tranches.

It said that the loan is secured on the company’s Grade A property portfolio, which is considered as the region’s premier financial district.

It is worth noting that the 4-year loan is priced at 380 basis points over EIBOR/Libor.

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