Emicool secures $216m loan
- United Arab Emirates: Monday, October 22 - 2012 at 04:17
Dubai-based Emirates District Cooling (Emicool), a joint-venture between Dubai Investments and Union Properties, has said it has signed a Dhs793m ($216m) Islamic loan guaranteed by both parents, Reuters has reported. Structured in a sharia-compliant manner, the ten-year facility will be used to refinance a Dhs668m bridge loan and other facilities raised with banks on an individual basis, which funded construction of cooling plants in the Motor City and Dubai Investment Park areas of the emirate.
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