Global Debt Capital Markets & Overseas Corporate, unit of Emirates NBD, successfully closed a USD1,200,000,000 (USD/AED) dual tranche syndicated Mudaraba Facility with 18 banks from the Middle East, Asia and Europe. Emirates NBD as Bookrunners launched the transaction in January 2008 with roadshows conducted in Dubai, Singapore, Kuala Lumpur and London.

This transaction gave Emirates NBD a wider recognition in the international financial debt capital market and strengthened Emirates NBD's position as a dominant player. Global Debt Capital Markets & Overseas Corporate, unit of Emirates NBD, has been successfully lead managing facilities for corporates in the UAE.

Mr Abdul Wahed Fahim, GM- Wholesale Banking, of Emirates NBD, said: "This deal further strengthens our relationship with the company and Dubai World Group, we are honoured to have been selected to lead manage this transaction. Successful closure and oversubscription of this transaction is evidence of our integrated approach in rendering a gamut of services to our valued corporate clients spanning the breadth of financial, debt capital and advisory solutions"

"This is a prestigious transaction for us and we are proud to be associated with a strong regional corporation like Limitless and Dubai World Group, said Rajan Khetarpal, Deputy GM and Head, Global Debt Capital Markets & Overseas Corporate of Emirates NBD. "The successful closure of this transaction reinforces our capability to successfully lead large transactions, even in current adverse market conditions"

Reported on: 19/03/2008