Dubai's Emaar raises USD1.5b loan

2014-06-02 05:44:26

(MENAFN) Dubai's Emaar Properties could raise a sharia-compliant loan worth USD1.5 billion via local banks to optimize its capital structure, according to Arabian Business. The seven-year loan carries a profit rate of 1.75 percent over the London interbank offered rate (Libor). The funds are provided on an equal basis by three Dubai lenders - Dubai Islamic Bank, Mashreq and Noor Bank - and two from Abu Dhabi - First Gulf Bank and National Bank of Abu Dhabi, Reuters reported on Thursday.

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Dubai's Emaar raises USD1.5b loan

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