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Emirates NBD signs AED 500 Million Structured Debt Financing agreement with Daman
"The Buildings" is Daman's first project at DIFC Dubai 9 March, 2008
Emirates NBD, the largest banking group in the Middle East in terms of Assets has signed an AED 500 Million bi-lateral structured debt agreement with Daman Real Estate Capital Partners. The agreement will provide part financing for Daman's first project "The Buildings by Daman" which will be located in Dubai International Financial Centre (DIFC).
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During signing ceremony
Mr. Mehdi Kazim, General Manager Corporate Banking, Emirates NBD, Mr. Shehab Gargash, CEO, Daman and senior management members from Emirates NBD.
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Commenting on the agreement, Mr. Abdul Wahed Al Fahim General Manager – Wholesale Banking, Emirates NBD said: "We are proud to be associated with the debut financing for Daman's project in DIFC, which is considered one of the most prestigious landmarks in Dubai. This unique debt structure reinforces Emirates NBD's position at the top end of the corporate credit market in terms of transaction structure & quality."
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During signing ceremony
Mr. Abdul Wahed Al Fahim, General Manager – Wholesale Banking, Emirates NBD , Mr. Shehab Gargash, CEO, Daman, Mr. Mehdi Kazim, General Manager Corporate Banking , Emirates NBD and senior management members from Emirates NBD.
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Commenting on behalf of Daman, Mr. Shehab Gargash, CEO stated:
"Our financial model has always been structured to conform to international investment standards but it is no surprise that a bank of the calibre of ENBD has joined a long list of quality partners as the provider of the debt financing. This shows the progressive thinking that has distinguished their exceptional and continuing development."
Click here for arabic version
Reported by: Claire Andrea (Corporate Communications)
Reported on: 10/03/2008
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