DIFC Investments, the investment arm of the company running Dubai's financial free zone, swung to a full-year profit in 2011, financial statements showed, and is close to a bank deal to refinance an upcoming Islamic bond
maturity.
The firm is "committed" to the repayment of its $1.25 billion Islamic bond, or sukuk, Chairman Abdulla Mohammed Saleh said in a statement to Nasdaq Dubai.
DIFC Investments' financial records stated that an agreement to refinance the sukuk was close and that management was confident that final agreements were "imminent."
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