Emirati Tabreed plans to issue bonds or sukuk worth one billion dollars

The National Central Cooling Company (Tabreed) intends to issue bonds or sukuk worth up to one billion dollars for a period of 30 years.

According to CNBC Arabia, the company stated that the offering will be for qualified investors that are not IPOs in the UAE and the bonds will not be listed in any UAE financial market.

The company also announced the closure of a joint loan as part of a credit facility agreement financed by HSB for a period of 5 years, amounting to $ 692 million, as part of the financing of the acquisition of 80% stake in Emaar Properties' cooling activities for the Downtown Dubai area for 2.48 billion dirhams, and Emaar retained a 20% stake.

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Emirati "Tabreed" plans to issue bonds or sukuk worth one billion dollars

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