- DUBAI: Dubai’s Department of Finance plans to raise $800 million by monetizing road toll receipts and will use proceeds to fund infrastructure projects, a statement from the Dubai government said.
The dual currency, six-year financing, would support the Roads and Transport Authority’s infrastructure projects and was expected to have a conventional and Islamic tranche, the statement said.
Citibank, Commerical Bank of Dubai, Emirates NBD and Dubai Islamic Bank are the mandated lead arrangers and book-runners for the financing.
The transaction was expected to be syndicated further to a group of banks, the statement said.