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Tuesday, 2 August 2016

UAE's Aldar Properties refinancing 1.8 bln dhs with longer-term loans - CFO | Reuters

UAE's Aldar Properties refinancing 1.8 bln dhs with longer-term loans - CFO | Reuters:

"Aldar Properties, the largest real estate firm in Abu Dhabi, has agreed with banks to refinance loans worth 1.8 billion dirhams ($490.4 million dirhams) with longer maturities, its chief financial officer told Reuters on Tuesday.

In February, Aldar said it planned to extend the lifespan of its 6 billion dirhams of total debt, which includes a $750 million sukuk issue.

Out of the 6 billion dirhams, bank loans constitute 3.2 billion dirhams, of which 1.8 billion dirhams is now being refinanced, Greg Fewer told Reuters."



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