Emaar Properties on Monday announced a partial launch of first-class instruments for 10 years.
According to Arab Net, the company said in a statement that it was commissioned by Dubai Islamic Bank and Emirates NBD, Abu Dhabi, First Abu Dhabi and Mashreq Bank, as well as Standard Chartered, as directors of subscription and the main records to arrange calls with international investors in addition to income investors. Fixed both with each or with a group of them as of June 28, 2021.
According to market conditions, this may follow a partial offering of first-class instruments not loaded with US dollar guarantees in accordance with the regulation of 10 years as part of the Emaar Properties for credit certificates worth $ 2 billion, and Emaar real estate is committed in accordance with the provisions of this program .
In its report yesterday, Standard & Poor's expected recovery in Emaar Real Estate profits and credit standards in 2021, where profits prior to interest, taxes, consumption and extinguishing (EBITDA) 8 billion dirhams and the improvement of funds (FFO) to debt are likely to be exceeded. 30%.
Therefore, S & B has adjusted its forecast for reconstruction of real estate to become a stable of negative and confirmed the long-term credit rating of BB +.
