Dubai's Jebel Ali Free Zone (Jafza) is seeking consent from holders of its $2 billion-equivalent Islamic bond, or sukuk, for early redemption of the certificates, the company said in a disclosure to Nasdaq Dubai on Wednesday.
The state-linked industrial free zone, part of a unit owned by Dubai World, has scheduled a meeting on May 24 in London to approve the Extraordinary Resolution and initiated the "consent solicitation" on Wednesday.
Jafza, located on the outskirts of Dubai, said earlier this week it was in advanced discussions with banks over a financing package to meet its bond obligation.
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