Dubai International Capital (DIC), the private equity arm of Dubai Holding, is confident that it will pay off its $2.5 billion pile of restructured debt in five years, its chief executive said, seeking to reassure investors.
The company aims to raise more than $150 million from asset sales this year, including a partial exit from luxury retailer Rivoli, which it will use to help pay down debt.
"We're 100 percent confident that we'll meet our commitments and we wouldn't have proposed this solution if we weren't confident. The last thing anybody wants is a restructuring of a restructuring," David Smoot told Reuters in an interview on Wednesday.
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