Emirates International Telecommunications AED2 billion refinancing

Overview:

• Emirates International Telecommunications has taken out AED2.1 billion in financing in order to refinance its debt.
• The financing consisted of a AED836.4 million conventional facility and an AED1.26 billion murabaha (deferred sale) facility.
• The security package on the deal included pledges over shares in du and shares in certain companies in the DIFC, creating a so-called 'double-pledge' structure.

Sam Duke - Editor