Wednesday, Apr 11, 2012
Gulf News
Dubai: Dubai Duty Free yesterday said that Abu Dhabi Islamic Bank (SDIB) has joined the airport retailers drive to raise $1.1 billion (Dh4 billion) in loans to support the development at Dubai International Airport (DIA).
The financing comprises a conventional term loan and Islamic facilities.
Abu Dhabi Islamic Bank has joined the transaction as a mandated lead arranger and bookrunner alongside Abu Dhabi Commercial Bank, Citigroup, Dubai Islamic Bank, Emirates NBD Capital and HSBC Bank Middle East to jointly arrange its debut $1.1 billion financing facilities, Dubai Duty Free said in a statement.
The Investment Corporation of Dubai-owned DDF, said to be the worlds largest airport retailer, on Monday launched a roadshow to raise $1.1 billion.
The purpose of the facilities is to optimise Dubai Duty Frees capital structure in order to support the further development at DIA, it said yesterday.
Staff Report
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