ADIB joins Dubai Duty Free's $1.1b loan drive

Dubai Dubai Duty Free Tuesday said that Abu Dhabi Islamic Bank (SDIB) has joined the airport retailer's drive to raise $1.1 billion (Dh4 billion) in loans to support the development at Dubai International Airport (DIA).

The financing comprises a conventional term loan and Islamic facilities.

"Abu Dhabi Islamic Bank has joined the transaction as a mandated lead arranger and bookrunner alongside Abu Dhabi Commercial Bank, Citigroup, Dubai Islamic Bank, Emirates NBD Capital and HSBC Bank Middle East to jointly arrange its debut $1.1 billion financing facilities," Dubai Duty Free said in a statement.

The Investment Corporation of Dubai-owned DDF, said to be the world's largest airport retailer, on Monday launched a roadshow to raise $1.1 billion.

"The purpose of the facilities is to optimise Dubai Duty Free's capital structure in order to support the further development at DIA," it said Tuesday.