Abu Dhabi developer Aldar plans to refinance debt - CFO | Reuters

Abu Dhabi developer Aldar plans to refinance debt - CFO | Reuters:

"Abu Dhabi developer Aldar Properties is planning to refinance outstanding debt, including a $1.2 billion bond maturing next year, the company's chief financial officer said on Wednesday.

Aldar has outstanding liabilities of 14 billion dirhams ($3.81 billion), Chief Financial Officer Greg Fewer told reporters in a conference call after posting its second-quarter results.

"We will be requesting many discussions with banks on various debt, including the $1.2 billion debt maturing next year," Fewer said.

Earlier in the day, Aldar said quarterly profits surged to 1.25 billion dirhams ($340.3 million) after booking a one-off gain from its acquisition of Sorouh Real Estate in June. ($1 = 3.6730 UAE dirhams) "

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