The financing will comprise a $6,300 million term loan and a $200 million revolving credit facility, both with a tenor of five years. The funds will be used primarily for the P&O purchase and for the refinancing of existing debt. Syndication is due to be launched imminently, with bank meetings scheduled in Dubai on 23 February and in London on 27 February. DP World has established a special purpose vehicle called Thunder for the acquisition. Dubai Ports, Customs & Free Zone Corporation issued a $3,500 million sukuk in January to part-finance the P&O deal. It was jointly arranged by Barclays and Dubai Islamic Bank (see page 23; MEED 20:1:06).