Syndication and funding

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Our syndication and resource
mobilization teams have been
streamlining a range of syndicated deals
and structures to mobilize resources.

In the light of our drive to help the private sector in our member countries to mobilize financing, our syndication and resource mobilization teams have been streamlining a range of deals and structures to mobilize resources.

At the same time the teams have been developing internal capacity and documentation to help facilitate a large Islamic syndication market under A/B and A/C financing loan schemes.

SYNDICATED TRANSACTIONS IN 2017

USD20m contribution for Defacto

USD65m syndicated murabaha facility

DeFacto was established and opened its first store in 2004. After one decade, it became one of the leading brands of the ready-towear apparel and fashion industry in Turkey. Today it is the second largest apparel company in Turkey, with 283 domestic stores. It also has 45 foreign stores in a range of countries from Kazakhstan to Egypt, Kosovo to Morocco.

USD10m contribution for NMC,

USD50m syndicated murabaha facility

NMC Health Plc started life as a small pharmacy and clinic in 1975. Since then it has become an integrated private healthcare services provider present across the UAE. The company was listed on the London Stock Exchange in April 2012, being a constituent of the FTSE 250 Index, and has grown via organic and inorganic routes.

NMC runs a network of some 20 hospitals, medical centers and day surgery clinics, with a licensed capacity of 855 beds in the UAE.

FUNDING ACTIVITIES IN 2017

In 2017, the ICD successfully raised nearly USD800m of financing mainly through private placements and bilateral facilities in order to meet the ICD’s operational and liquidity requirements. To maintain the match funding principle, we mainly obtained funding in US dollars, given that our assets are largely denominated in the same currency. As part of our strategy to diversify our funding sources, the

ICD has also obtained the funding in convertible local currency and converted the proceeds to US dollars on a fully hedged basis via Islamic cross currency profit rate swaps (ICCPRS).