Pricing details on UAE Emal smelter syndication

The US$2.8 billion six year equity bridge facility will be priced at Libor+ 70bp for the first four years, rising to Libor+ 90bp for the final two years. This provides motivation for the sponsor - a JV of Dubai Aluminium and Mubadala - to complete building work within four years so as to avoid the higher pricing.

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