Tabreed raises $500m with seven-year sukuk | GulfNews.com:
National Central Cooling Company (Tabreed) said that it has raised a $500 million (Dh1.8 billion) sukuk with a seven-year tenor after recent investment meeting in Europe, Asia and the UAE.
The new sukuk will be listed on the London Stock Exchange, according to a statement from the company on Tuesday.
Tabreed also said it secured new bank facilities of Dh1.5 billion. The proceeds of the sukuk as well as the bank facilities will be used to refinance Dh2.8 billion of current corporate debt.
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