Abu Dhabi: Abu Dhabi Islamic Bank (ADIB) has arranged a Dh1.2 billion syndicated Islamic facility for IMG Theme Park LLC, the company behind IMG Worlds of Adventure, Dubai’s first mega-themed entertainment destination.
ADIB acted as the mandated lead arranger, investment agent, security agent and account bank for the facility. The deal was structured by ADIB to meet IMG Theme Park’s specific financing needs, including refinancing of its existing corporate facility and providing finance for the expansion of the Worlds of Adventure project.
Other banks that participated in the deal included Al Hilal Bank PJSC, Commercial Bank International PJSC as mandated lead arrangers, Noor Bank as lead arranger and Sharjah Islamic Bank as arranger.
“This deal demonstrates ADIB’s capabilities to deliver against the financing needs for a project of this complexity in record time,” said Arif Usmani, Global Head of Wholesale Banking for ADIB. “We are very excited to be part of this ground-breaking project.”
The IMG Worlds of Adventure will feature a number of state-of-the-art attractions, mega-coasters, immersive rides, a vast selection of retail stores and original dining outlets. These will all be themed around popular cartoon characters, superheroes and an original entertainment concept — Lost Valley-Dinosaur Adventure, which will feature animatronic dinosaurs and rides.
