Dubai is seeking to raise about $800 million of financing backed by receipts from the city’s road toll system, Financial Times reports. The finance department will launch the six-year financing to help pay for projects under the Road & Transport Authority.
The managers of the deal are Commercial Bank of Dubai, Citibank, Dubai Islamic Bank and Emirates NBD. The transaction will incorporate both Islamic and conventional financing tranches.
Click here for the story from Financial Times.
Click here for additional coverage from Bloomberg.