District cooling firm Tabreed TABR.DU has reached a deal with creditors to refinance AED2.63 billion (US$716 million) in debt, with additional aid coming from state-owned Mubadala fund.
Tabreed's shares jumped 8 percent in early trade.
Investment vehicle Mubadala -- which owns a 16.7% stake in Tabreed -- will pump in an additional 400 million dirhams in the form of a bridge loan that will help Tabreed complete its recapitalisation program and avoid a liquidity crunch.
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