VOL. XLVII
No 11
15-March-2004
UAE
CAPITAL MARKETS
UAEs Tabreed Issues $100Mn Sukuk Bond
The UAEs National Central Cooling Company (Tabreed) has successfully issued a $100mn sukuk bond to raise funds to retire some of its debt (of Dh500mn $136mn), and finance expansion. The bond, which will be listed in Luxembourg, has a maturity of five years and carries a coupon of 5.50%. According to Muhammad Saif al-Mazru'i, Chairman of Tabreed, the offering has given the company access to a new range of...
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