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ICD launches USD2bn syndication

Published: 19/03/2013 05:26:30 PM GMT
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Monday, Mar 18, 2013Dubai: Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai on Monday announce (more)

Monday, Mar 18, 2013

Dubai: Investment Corporation of Dubai (ICD), the investment arm of the Government of Dubai on Monday announced that it has launched the syndication of its new $2 billion conventional and Islamic financing facilities.

The purpose of the facilities is to refinance the $2 billion five year tranche of the original $6 billion three and five year facilities signed on August 21, 2008, ICD said in a statement.

The new facilities will have a tenor of five years. The $4 billion tranche which was due in August 2011 was repaid in full.

Abu Dhabi Commercial Bank, Citi, Commercial Bank of Dubai, Emirates NBD Bank and HSBC have been appointed as Mandated Lead Arrangers on the conventional facilities while, Abu Dhabi Islamic Bank, Dubai Islamic Bank and Standard Chartered Bank have been appointed as mandated lead arrangers on the Islamic facilities.

ICD will be hosting a bank meeting in Dubai during the week commencing March 24, 2013.

Staff Report

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