Abu Dhabi's TDIC secures financing to repay $2 bln bonds in 2014 | Reuters

Abu Dhabi's TDIC secures financing to repay $2 bln bonds in 2014 | Reuters:



"Abu Dhabi's Tourism Development & Investment Co (TDIC), which reported on Monday that its losses had narrowed in 2013, has secured full financing to repay $2 billion in maturing bonds this year, the state-owned firm said.



TDIC, which is building iconic museums such as the Louvre and Guggenheim in Abu Dhabi, has a $1 billion conventional bond repayable on July 2 and a $1 billion sukuk (Islamic bond) due for payment in October.



"We have completed 100 percent of our refinancing activities to ensure there is no risk to TDIC or our shareholders in regards to maturing debt," TDIC said in a statement to Reuters."



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