Dubai fund ICD inks $2.5bn loan deal

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Investment Corp of Dubai (ICD), the holding company for some of the emirate's best-known companies, has signed an upsized $2.5bn, five-year loan facility, it has said in a statement.

The new deal, which was arranged by a group of eight local and international banks, refinances an existing $2bn facility which is due to mature in August.

Bankers told Reuters last month that the new loan had attracted heavy demand from lenders, with ICD considering an increase on its original $2bn target.

In total, 17 lenders participated in the deal, the statement said. The loan had been marketed since mid-March.

ICD is Dubai's flagship investment vehicle, holding stakes in many of its top companies including Emirates airline, lender Emirates NBD and property developer Emaar Properties.

 

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Capital plans: how Qatar's banks are shaping up

Capital plans: how Qatar's banks are shaping up

Ahli Bank chief executive Salah Murad says that despite competition...

The spectacular rise and fall of Arabtec

The spectacular rise and fall of Arabtec

The ups and downs of Dubai most heavily traded stock teaches...

1
MidEast investors eye $180bn overseas spending

MidEast investors eye $180bn overseas spending

Arab institutional investors have been buying up swathes of ...

Most Discussed