Dubai’s Limitless looks for $1.2bn

13 January 2008
Development company Limitless plans to raise $1.2bn through a syndicated loan in the next few months and began a roadshow marketing the deal to investors on 13 January in Dubai.

The roadshow will also visit Singapore, Kuala Lumpur and London, and is expected to include an Islamic tranche. Banks advising on the fundraising include Emirates Bank and Emirates Islamic Bank, who will act as lead arrangers on the two year loans.

Limitless, which is the developer of the $11bn Arabian Canal project in the UAE and has over $100bn of projects currently announced, says the funds will be used for “current and future projects”.

The 10 day roadshow will involve the company presenting the investment case before around 100 international investors.

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