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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)
