ENBD REIT (ENBDREIT.DI), a real estate investment trust set up by the asset management arm of Dubai"s biggest lender, said on Thursday it has refinanced its entire debt with a syndicated facility worth $200 million through Emirates NBD (ENBD.DU) and Commercial Bank of Dubai . The Murabaha facility, a shariah-compliant structure, was syndicated by Emirates NBD Capital, Emirates NBD"s investment banking arm. ENBD REIT"s debt facilities comprise $45 million from Standard Chartered and $150 million from Mashreq. Consolidating the outstanding debt will improve the REIT"s capital structure and cut financing costs, it said. "The 5-year facility is profit only and includes a cross currency swap to improve overall pricing. The improved profit margin is likely to result in over USD 7 million of savings on ENBD REIT"s financing costs over the term of the facility," ENBD REIT said in a statement. Ahmed Al Qassim, group head of corporate and institutional banking at Emirates NBD, said ENBD REIT took advantage of market conditions to "optimise its profile". Reporting by Yousef Saba; editing by Jason Neely Our Standards: The Thomson Reuters Trust Principles.