Mandated lead arrangers Goldman Sachs and WestLB have launched syndication of a $300 million, one-year loan that backs the acquisition of SmartStream Technologies Group  by a Dubai government agency, a banking source said.

DIFC Investments, an agency of the Dubai International Financial Centre, purchased SmartStream with private equity firm TA Associates for 200 million pounds ($391.7 million), the Dubai investor said in a statement in November.

The borrower is D-Clear Europe and the loan is guaranteed by DIFC Investments, the banker added.

SmartStream, which specialises in software for financial services firms, would help the DIFC build a platform for data management and trade processing, DIFC Investments said.

The DIFC is a self-regulating, dollar-based, business park which Dubai set up to capture the financial services business in the world's biggest oil exporting region.-Reuters