The National Central Cooling Company said that the company’s shareholders decided to authorize the Board of Directors for a period of 12 months to issue non-convertible debt instruments (bonds / sukuk) into shares with a total value of one billion Dollar.
The company added, in a statement to the Dubai Financial Market, today, Wednesday, that bonds or sukuk will be issued either directly or through a company with special purposes in one or several brackets. Tranches to be offered under this special decision to eligible investors totaling one billion dollars (or its equivalent) in total.
The maturity date of the issuance will reach 30 years at a profit rate that does not exceed the prevailing market price available to companies with the same credit rating of the company, in each case as the company’s board of directors considers. Fit.
The approval of the timing and the relevant conditions for any issue / issues will be determined, provided that this issue is made for securities within one year from the date of the approval of this decision and in accordance with the provisions of the law Federal No. (2) of 2015 regarding commercial companies or any regulations or guidelines issued by any governmental or regulatory body under this law.
the revenue from this issue is expected to be used to finance acquisitions or general corporate purposes.
