Dubai launches $800m Salik monetisation financing

09 April 2011

The government of Dubai has hired four banks to raise $800m by selling receipts from the Salik road toll as the emirate seeks financing for its transport projects. The Commercial Bank of Dubai, Citibank, Dubai Islamic Bank and Emirates NBD have been mandated lead arrangers and book-runners for the financing, the emirate's Department of Finance said. All proceeds of the financing will be used to support the Roads and Transport Authority's (RTA) infrastructure projects it said.

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