EMAL closes record us $4.9BN financing deal

Emirates Aluminium Company (EMAL), the joint venture equally owned by Mubadala Development Company and Dubai Aluminium, has closed its US $4.9 billion record financing deal.

Emirates Aluminium Company (EMAL), the joint venture equally owned by Mubadala Development Company and Dubai Aluminium, has closed its US $4.9 billion record financing deal.

EMAL received over $15 billion of commitments for the facilities, which consist of a $1.8 billion sixteen-year term loan, a $270 million letter of credit facility and a $2.8 billion six-year equity bridge loan.

This is the largest single commercial financing, to date, for any project in the Arabian Gulf.

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