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Abu Dhabi Financial Group subsidiary arranges financing for Taj Hotel development in Dubai.

Integrated Alternative Finance (IAF), a subsidiary of Abu Dhabi Financial Group (ADFG), has structured and financed a mezzanine debt facility for Downtown Investments Limited (DIL), the owner of the Taj Dubai, located in prime Downtown Dubai.

The facility for DIL was structured alongside senior debt provided by five regional lenders and equity provided by DIL's parent with a total project cost of AED 700 million.

Jassim Alseddiqi, Chief Executive Officer of ADFG, said, "This transaction again showcases IAF's ability to structure liquidity solutions across the capital structure. In the case of DIL and the Taj Dubai, we have been working with shareholders and senior lenders in leveraging its development with the right mix of senior and mezzanine debt to provide efficient shareholder returns."

"IAF's involvement in the Taj Dubai hotel project further highlights its ability to partner with banks and alternative lenders to structure financing solutions. With over AED 3 billion of transactions completed in the last 12 months, many with a large ticket size and incorporating a mix of traditional and alternative lenders, IAF is now established as an international leader in the sector."

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Publication:CPI Financial
Date:Jun 3, 2015
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