Jasper Corp Finance, UK, Qatar National Bank and HSBC join ranks to promote Shariah by banking.
Jasper Corporate Finance, Qatar National Bank and HSBC Announce the Successful Closure of an AED200m Shari’ah-compliant Facility for Osus STARGATE
Acting as financial adviser to Osus, Jasper successfully structured a Shari’ah compliant transaction with Qatar National Bank (QNB) and HSBC Amanah (HSBC), which acted as the arranger, agent and security agent for the club deal.
QNB and HSBC jointly financed the transaction with each contributing 50% of the total amount, or AED100m (US$27.5m).
The proceeds of the transaction will assist Osus in funding the development of a high quality family “edutainment” centre and themed mall to be located in Za’abeel Park, Dubai, United Arab Emirates (UAE). The STARGATE project will be a unique mixed-use, multi-attraction venue, with both indoor and outdoor facilities well placed at the heart of Dubai.
Osus is owned by a number of leading companies in the Gulf, including Tanmiyat, Al Oula Real Estate Development and Al Hindi Group, and was granted permission by the Dubai Municipality to develop this unique project through a Build Operate Transfer contract for a lease term of 30 years.
Shahin Mansuri, Head of Jasper Corporate Finance, commented:
“We at Jasper are delighted that the transaction was successfully concluded with excellent collaboration between Osus, its shareholders, QNB and HSBC. This transaction demonstrates how Jasper can serve the needs and goals of such clients who wish to expand and finance their activities in the region with innovative and practical solutions.
continue reading at……….http://www.prnewswire.co.uk/cgi/news/release?id=235912
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