The Abu Dhabi Tourism Development and Investment Company (TDIC) is planning to raise another US$1 billion (Dh3.67bn) under an existing bond programme in the next year as it increases construction activity on Saadiyat Island.
The money is expected to be used to fund TDIC projects, which include additions to its destination hotels such as the Qasr al Sarab in the Empty Quarter, as well as construction of three major museums on Saadiyat Island.
In 2009, TDIC launched a facility that comprised $3bn of medium-term notes and a $1.45bn Islamic bond. The company issued $2bn of debt under that facility. A new issuance would be the first debt-raising for TDIC in about two years.
No comments:
Post a Comment