Financial And Banking News


Sharjah Borrows $154mn 

The Emirate of Sharjah has mandated the Dubai-based Wardley Middle East to raise a two tranche five-year loan for a total of $154mn. A US$ tranche worth $100mn carries a 1% spread over Libor, while Dh200mn ($54mn) is being raised at 1% over Libor, with a minimum rate of interest of 12%. There is no grace period on the loan, which is to be repaid in quarterly installments. The US$ tranche carries a 0.375% commitment...