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
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Discussed