Cooling firm Tabreed , which received funding earlier this year from state-owned Mubadala to restructure debt, said it fully repaid a $200 million Islamic bond or sukuk maturing on Wednesday.
The sukuk was launched in 2006 and the total amount paid to certificate holders of the bond was 735 million dirhams, Tabreed said in a statement on Wednesday.
'The repayment of the '06 sukuk today was contemplated in our structuring of the recapitalisation program and improves the company's overall financial position,' Waleed Al Mokarrab Al Muhairi, Tabreed's chairman said in the statement.
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