UAE’s Sewa raises USD500m ijara loan to fund infrastructure development

01 Mar 2015

(MENAFN) Sharjah Electricity & Water Authority (Sewa) raised USD500 million loan through ijara facility to fund infrastructure development in Sharjah, Emirates 24/7 reported.

The two firms which performed as financial advisors for the transactions are Kuwait Finance House (KFH) and GIB Capital, according to the chief executive officer of KFH.

Remarking upon KFH’s participation, which amounted to USD120 million, the chief executive officer said that it is the largest participation among the mandated lead arrangers.

Sewa will utilize the transaction to fund its current and future projects, which include the infrastructure and expansion plans to meet the growth needs of the emirate.

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