Dubai is expected to sign in the next few weeks a $3bn loan agreement with a number of banks to finance the expansion of Dubai International Airport and Al Maktoum International Airport and logistics hub, Bloomberg said this week quoting sources familiar with the project.

The emirate last November hired HSBC to advise on the international loan, which reportedly consists of a $2bn conventional tranche at interest of 200 basis points above the London Interbank Offered Rate, plus a one-off fee of 85 basis points on the loan value, and a $1bn Islamic portion at a margin of 200 basis points above the Emirates Interbank Offered Rate. (CONTINUED - 457 WORDS)