Dubai's ICD launches USD2b syndicated loan

(MENAFN) investment Corporation of Dubai (ICD) announced that it has launched a USD2-billion syndicated loan to refund the remaining third of a USD6 billion funding package due in August, reported The National. The holding company, which is owned by government of Dubai, has already repaid USD4 billion of the total package in August 2011. The company said that it will host a bank meeting in Dubai during the week starting 24 March, noting that it has appointed several commercial and Islamic banks to arrange the conventional facilities and the Islamic financing. It is worth noting that ICD owns several companies of its corporate portfolio, such as Emirates Airline, Dubai Electricity and Water Authority (Dewa) and Dubai Duty Free.


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