Dubai Metro extension financial close

first_imgUAE: Financial close for Phase 2 of the Route 2020 project to extend the Dubai Metro’s Red Line by 15 km from Nakheel Harbour & Tower to the Expo 2020 site was achieved on March 20.Banco Santander, First Abu Dhabi Bank, HSBC Bank Middle East, Intesa Sanpaolo and Standard Chartered Bank acted as mandated lead arrangers and facility providers.The Phase 1 conventional financing of US$1·1bn was completed in September 2017, comprising a 10-year facility of 4bn dirham amortising over six years from 2022.Phase 2 of the financing comprises a 17-year 5·2bn dirham loan supported by guarantees from French export credit agency Bpifrance Assurance Export and Spanish export credit agency CESCE, amortising over 14 years from 2020.Squire Patton Boggs acted on behalf of the government of Dubai in closing the ‘complex’, transaction, which it said was one of the largest infrastructure financing deals in the Middle East. Director General of Dubai’s Department of Finance, Abdulrahman Saleh Al Saleh, said the ‘encouraging response’ to the financing illustrated ‘the strong confidence of international banks in Dubai’s economy’. He said the government ‘continues to examine ways to optimise its funding strategy’, and export credit agency financing had helped to ‘achieve long-term financing at competitive rates while at the same time allowing us to manage our budget proactively and in a fiscally responsible manner’.The metro extension is being built by the Expolink consortium of Alstom and civil works contractors Acciona of Spain and Gülermak of Turkey under a design and build contract awarded by Dubai’s Roads & Transport Authority in 2016. Thales is providing signalling systems. Construction got underway at the end of 2016, and services are scheduled to start on May 20 2020, five months before the opening of the Dubai Expo.last_img read more

High school girls basketball: Benton wins Trak1 tournament

first_imgThe Benton Lady Tigers defeated Class 2A power North Caddo 56-42 in the championship game of the Trak1 Background Screening Lady Tigers Tournament Saturday night at Benton.Sophomore guard Qua Chambers, named the tournament’s MVP, led Benton with 24 points.Chambers and junior All-Tournament selection Emily Ward both scored eight points in the first quarter as Benton jumped out to a 19-6 lead.Ward scored 12 of her 14 in the first half and Benton (8-2) led 32-15. Chambers scored 12 in the third quarter as Benton maintained the 15-point advantage.North Caddo (12-2), which edged Evangel 44-42 in the semifinals earlier Saturday, got 23 points from Destiny Rice.Airline dropped a tough 49-47 decision to Southwood in the consolation finals.Makayla Bendaw hit five 3-pointers and led the Lady Vikings with 15 points.Parkway defeated West Ouachita 47-44 in the seventh-place game.Freshman Sh’Diamond McKnight led the Lady Panthers with 31 points. McKnight scored 14 in a 40-36 loss to Southwood in the consolation semifinals.Elsewhere, the Bossier Lady Kats finished third in the Tournament of Champions in Fort Smith, Ark.— Russell Hedges, [email protected] You Ready to Meet Cool Guys in Tung Chung?|SponsoredSponsoredUndoTheTopFiveVPNThe Secret Netflix Doesn’t Want You To Know To Unblock RestrictionsTheTopFiveVPN|SponsoredSponsoredUndoAspireAbove.comRemember Abby from NCIS? Take A Deep Breath Before You See How She Looks|SponsoredSponsoredUndoNews gadgetThis watch takes the whole country by storm! it’s price? Ridiculous!News gadget|SponsoredSponsoredUndoTheTopFiveVPNThe Trick Netflix Doesn’t Want You To Know To Unlock RestrictionsTheTopFiveVPN|SponsoredSponsoredUndoCelebsland.com9 Celebrity Before-And-After Plastic Surgery|SponsoredSponsoredUndolast_img read more