Standard Chartered announced that it had signed a 10-year, $150 million debt package.
It is understood that Dubal is aiming to raise up to $1,100 million through a string of bilateral arrangements with regional and international banks. Other banks interested in participating are thought to include the following: National Bank of Abu Dhabi, National Bank of Dubai, Barclays Capital, Citibank, Credit Agricole Indosuezand HSBC Investment Bank (MEED 28:6:02).
Bankers say Dubal issued invitations for banks to provide 10-year loans priced at 50 basis points over Libor. Standard Chartered has not revealed the margin on its loan.