Mubadala gets $1 billion for Zayed University project

Abu Dhabi government-owned investment company Mubadala said that it had secured a $1 billion financing deal for its Zayed University project from a consortium of 11 local and international banks. The tranche matures in 10 years and includes conventional and Islamic debt.

The Zayed University project includes the design and construction of a new campus for 6000 students, Mubadala said in a statement. “Mubadala has a strong pipeline of transactions and we will continue to focus on broadening the range of debt instruments used to finance future projects, particularly in light of the more constrained nature of the long-term bank financing market,” said Derek Rozycki, executive director of Project and Corporate finance at Mubadala.