The deal, which is guaranteed by the emirate of Ras al-Khaimah, is being coordinated by Credit Suisse.
WestLB is acting as bookrunner and lead arranger, with Riyad Bank and First Gulf Bank also acting as lead arrangers.
The debt will have a three-year tenor, will be split between dollar and dirham tranches and is expected to be priced at 175 basis points over the London interbank offered rate (libor).
Ras al-Khaimah has been rated A by Standard & Poor’s.
Roadshow meetings are expected to take place in Dubai on 19 August and in London on 20 August.
You might also like...
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.