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Banks in the United Arab Emirates began marketing to other lenders a $850 million loan made to the Investment Corporation of Dubai for the construction of a hotel complex on Dubai's Palm Jumeirah, according to two bankers with knowledge of the deal. Emirates NBD PJSC, Dubai's biggest bank, Dubai Islamic Bank PJSC and Abu Dhabi Commercial Bank PJSC are providing the loan to build a second Atlantis resort on the man-made island, the sources said, asking not to be identified because the information is private. The dirham portion of the 10-year loan is priced at 295 basis points over the benchmark rate and the dollar's at a spread of 320 basis points, they said.
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