Emirates Islamic has announced the successful completion of a substantial $500 million syndicated financing facility, marking a significant debut in the bank’s financing efforts. The facility, with a three-year term, was structured according to Shariah principles and is known as a commodity murabaha term financing facility. The proceeds from this financial arrangement will be directed towards contributing to the bank’s general corporate funding, providing greater flexibility and resources for the Shariah-compliant lender to engage with its corporate objectives. The transaction was facilitated through the concerted efforts of Emirates NBD Capital Limited, HSBC Bank Middle East Limited, and Standard Chartered Bank, which served as the global coordinators and mandated lead arrangers and bookrunners for the deal. Their role included organizing the debt, underwriting the facility, and subsequently selling it to investors. The successful closing of the deal signals Emirates Islamic’s robust financial standing and the strength of the Islamic banking sector, showcasing the capacity for significant capital raising under the rigorous standards of Shariah-compliant financial practices.
Islamic Banking, Corporate Finance,Middle East, Dubai, United Arab Emirates
https://www.zawya.com/en/islamic-economy/islamic-finance/emirates-islamic-concludes-debut-500-million-financing-facility-d55ojnrk