Ferrari Theme Park Developer Looking to Extend Debt Maturities - Bloomberg Business:
"Aldar Properties PJSC, Abu Dhabi’s largest developer and the builder of a Ferrari theme park, is considering extending maturities on parts of its 6 billion dirhams ($1.6 billion) of debt.
The debt, which fell from 9.1 billion dirhams a year ago, includes loans due from 2016 to 2019, Chief Financial Officer Greg Fewer told reporters on a conference call Monday. The rest is a $750 million Islamic bond, or Sukuk, due in 2018.
“We are about half in the bond market, half in the debt market right now in terms of our gross debt and we like that proportion,” the CFO said. “We would like to extend the overall debt duration for the whole portfolio,” he said. “We are monitoring both bank and bond markets for opportunities.”"
'via Blog this'
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