Source: AME Information

Al Hikma Development Company, a wholly owned subsidiary of Mubadala Development Company, today announced the completion of the limited-recourse financing of the UAE University New Campus PPP Project in Al Ain, UAE.

A syndicate of international and regional banks is providing the US$410,000,000 debt package to the region's first, and the world's largest, single education public-private partnership project.

The mandated lead arrangers are Barclays Capital, National Bank of Abu Dhabi, Royal Bank of Scotland and Societe Generale.

'We are pleased to have secured the financing on such a prestigious project. The UAE University New Campus PPP Project is strategically important to Mubadala and we are proud to be working with the UAE University in providing world-class facilities that will enable them to continue to raise the standards of education in the UAE and the region. This is a benchmark project for the development of future social infrastructure and PPP projects in the UAE and the region. We expect it to be the first of many currently being developed by Mubadala' said Waleed Al Mokarrab Al Muhairi, COO of Mubadala Development.

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Posted by pichu at April 4, 2007 4:05 PM