UAE's Tabreed likely to issue more bonds in coming years, says CEO | ZAWYA MENA Edition
Dubai-based National Central Cooling Company (Tabreed) could issue more bonds as it looks to fund acquisitions, including the purchase of district cooling units sold by real estate and infrastructure developers looking to offload non-core assets, its chief executive officer (CEO) told Zawya.
“[There] will be more and more opportunities coming to the market this year. Dubai Airport is one of them,” Bader Al Lakmi said in a phone interview.
The state-owned Dubai Airports has reportedly appointed Standard Chartered as an advisor on the potential sale of a controlling stake in the district cooling plant of Dubai International (DXB). The business is valued at around $750 million, Bloomberg reported earlier.
Al Lakmi said the airport opportunity is being “looked at” by Tabreed, and that it is one of many opportunities in the emirate that the company will consider in 2021.
The company told the Dubai Financial Market (DFM) on Thursday that no agreement regarding the asset serving DXB has been signed yet.
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