Arab Today, arab today difci repays 125b sukuk
Last Updated : GMT 21:10:43
Arab Today, arab today
Arab Today, arab today

DIFCI repays $1.25b sukuk

Arab Today, arab today

Arab Today, arab today DIFCI repays $1.25b sukuk

Dubai - Arabstoday

DIFC Investments, or DIFCI, the investment arm of the Dubai International Financial Centre, announced on Wednesday that it repaid a $1.25 billion sukuk due this month. “This transaction reaffirms our commitment to meet our obligations,” said Abdullah Mohammed Saleh, governor of the Dubai International Financial Center and chairman of DIFC Investments. The prompt repayment of the bond, which matured on June 13, is a clear signal Dubai’s government related entities are firmly on track to meet all their financial commitments, analysts said. In June’s first week, DIFC Investments signed a $1.04 billion five-year loan to help meet the repayment of the sukuk. The dual-tranche Islamic financing includes both a commodity murabaha and an ijarah part. Two thirds of the facility is in dirham and the remaining in dollars. The five-year facility is priced at 380 basis points, or 3.8 percentage points, above the Emirates/London interbank offered rates and is backed by DIFCI’s prime property portfolio, according to a statement. Emirates NBD, Standard Chartered, Dubai Islamic Bank and Noor Islamic Bank arranged the facility. “The presence of regional and international banks in the transaction is an indication of the confidence and support that key stakeholders have in the success of the DIFC,” Saleh said in a statement last week. DIFC Investments made a net profit of $130.5 million in 2011 compared to a net loss of $272 million in the previous year,  after the impact of discontinued operations. Profit from continuing operations totalled $185.4 million compared to a loss of $286 million in 2010. Rental income increased last year by 1.8 per cent over 2010 and total rental income generated from investment properties was $128 million. DIFC Investments sold Despec International for $27 million, with payment to be received in three installments by December 31, 2013. The company received an amount of $15 million in 2011, in line with the installment plan, it said. From khaleejtimes

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today difci repays 125b sukuk Arab Today, arab today difci repays 125b sukuk

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today difci repays 125b sukuk Arab Today, arab today difci repays 125b sukuk

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday