The Department of Finance in Dubai today announced the launch of a US$800 million, dual currency, six year financing, based on the monetisation of receipts from the Salik road toll collection system in Dubai.
The Department of Finance said all proceeds of the financing will be used to support the Roads and Transport Authority’s infrastructure projects, according to a press release distributed today by the Dubai Government Media Office.
The Commercial Bank of Dubai, Citibank, Dubai Islamic Bank and Emirates NBD are mandated lead arrangers and book-runners for the financing. The transaction is expected to be syndicated further to a select group of banks and incorporates both a conventional and Islamic tranche.
