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Thursday, 20 November 2008 14:43 UAE time

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EMAL closes record us $4.9BN financing deal

by ArabianBusiness.com staff writer  on Saturday, 22 December 2007

Emirates Aluminium Company (EMAL), the joint venture equally owned by Mubadala Development Company and Dubai Aluminium, has closed its US $4.9 billion record financing deal.

EMAL received over $15 billion of commitments for the facilities, which consist of a $1.8 billion sixteen-year term loan, a $270 million letter of credit facility and a $2.8 billion six-year equity bridge loan.

This is the largest single commercial financing, to date, for any project in the Arabian Gulf.

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READER COMMENTS

  1. Labourers living in homes 'not fit for cats and dogs' 1
    19 Nov ' 08 at 15:22
    At a time when the Arab 'financial experts' should be recoiling from the mistakes and the millions plundered from the expat...  More »
  2. Bahrain Navy awards contract to UAE shipbuilder 1
    20 Nov ' 08 at 04:34
    Its nice to see a UAE shipyard get a contract to build a navy ship - all these contracts should stay in the Gulf area if the yards are...  More »
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