Dubai-based Shariah complaint lender Emirates Islamic said it has completed its first $500 million syndicated financing facility.

The three-year term facility is structured as a commodity murabaha term financing facility in compliance with Shariah principles, the proceeds of which will be used for Shariah-compliant general corporate funding purposes, the lender said in a statement on Thursday.

Emirates NBD Capital Limited, HSBC Bank Middle East Limited and Standard Chartered Bank acted as global coordinators and mandated lead arrangers and bookrunners.

(Writing by Brinda Darasha; editing by Seban Scaria)