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Dubai secures $3 bln financing for airports expansion

Published: Updated:

The Dubai government said on Sunday that it had secured $3 billion in long-term financing for expansion of its airports.

The deal, for which HSBC acted as financial adviser, included a $1.63 billion, seven-year conventional loan and a $1.48 billion-equivalent, seven-year ijara facility denominated in dirhams. Ijara is a common lease-based structure used in Islamic finance.