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| Emaar mandates Citigroup to arrange US$1 billion Islamic facility Global real estate major Emaar Properties has appointed Citigroup as lead manager and sole arranger of its debut US$1 billion Musharaka Islamic syndication. The five-year facility will primarily be used to finance the Emaar's large-scale international projects and complete its multibillion projects in the UAE. The syndicated Musharaka facility is the first debt issue for Emaar in terms of size and scope, and will be instrumental in meeting the company's growth needs in the near future. Moreover, this pioneering transaction is crucial for reinforcing Emaar's ties with global and regional financial powerhouses. A number of them are joining in as Mandated Lead Arrangers including National Bank of Abu Dhabi, Union National Bank, First Gulf Bank, HSBC, Mashreq Bank, ABN Amro and Royal Bank of Scotland. write your comments about the article :: © 2006 Construction News :: home page |