Emirates Bank & Standard Chartered Bank arrange a USD 2.25 billion syndicated term loan facility for Dubai Holding

Forty five local, regional and international banks participated in this syndication for the purpose of which was the funding of Dubai Holding's acquisition of a 35% stake in Tunisia Telecom, through a consortium comprising two of its subsidiaries: TECOM Investments and Dubai Investment Group.

Dubai Holding manages various large scale infrastructure and real estate projects, local and international investments that contribute to Dubai's economic, social and industrial development. Dubai Holding has established a strong foothold in multiple sectors including information technology, communication, energy, health and education, tourism, real estate, finance, hospitality and leisure, biotechnology and industrial manufacturing.

Mr. Abdul Wahid AlFahim, General Manager - Corporate Banking, Emirates Bank stated that, 'This is a prestigious transaction for us particularly as this is Dubai Holding's initiation to the debt syndication market. Going forward, we expect Emirates Bank to be a significant player in the domestic syndication market. This deal reinforces Emirates Bank's position at the top end of the corporate credit market in terms of deal size and quality'.

According to Mr.Mahdi Kazim, Senior Manager & Head of Corporate Banking, Dubai Main Unit, 'Emirates Bank is the main relationship bank of Dubai Holding and is proud to be associated with its initiatives driven by their vision- for the good of tomorrow. We are honored to have been chosen by Dubai Holding to lead manage this transaction'.

'We are very pleased to be mandated ahead of several other banks for this financing' said Mr. Rajan Khetarpal, Senior Manager and Head, Structured Finance and Syndications, Emirates Bank. 'We are strategically positioning Emirates Bank to lead manage numerous syndications and widen the scope of offering to corporate clientele. The successful closure of Dubai Holding syndication is a manifestation of our enhanced capabilities in this rapidly emerging area of corporate finance.

Mr. Mohamed Metwally, Managing Director and Regional Head of Corporate Finance & Advisory at Standard Chartered Bank, said 'We are very pleased with the remarkable success of this landmark transaction, which reflects the increasing breadth and depth of the local credit markets and the trust and confidence capital markets have in the blue chip Dubai Holding name. We are eager to continue supporting our clients in the Middle East in their quest for cross border acquisitions and their transformation into global leaders.'

Mr. Jonathan Ward, Managing Director and Head of Syndications MEPA at Standard Chartered Bank stated 'This is one of the largest Syndicate groups ever for a Middle East based financing and clearly reflects the standing of this borrower in both the International and Regional markets.