The two-tranche facility, which consists of both Sharia-compliant and conventional funding, is split between a five-year tranche and an eight-year amortizing loan and carries a margin of 350 basis points.
Dubai Islamic Bank, National Bank of Abu Dhabi and Standard Chartered have providing the finance, which will be initially used to repay an existing $300 million facility taken out in 2010, Emaar said.
The new facility will benefit the company by extending its debt maturity profile and reducing the cost of its borrowing, the statement added.
Dubai Mall is one of the world's largest malls, with an indoor Olympic-sized ice-skating rink and a two-storey high aquarium.
Sources said in September that the developer was in the process of raising around $800 million through a two-tranche loan which was backed by four malls, including Dubai Mall, one of the world's largest shopping centers.
