DIFC Inv'ts to make payment on $1.25bn sukuk

  • Share via facebook
  • Tweet this
  • Bookmark and Share
(Getty Images)

(Getty Images)

DIFC Investments, part of the group which operates Dubai's tax-free business hub, said its unit will make a periodic profit distribution on its $1.25 billion Islamic bond on time, a statement said on Wednesday.

The amount to be repaid for the three month period from June 14 to Sept 13 by Dubai Sukuk Centre is $2.88m, a statement posted on Nasdaq Dubai exchange said.

DIFC Investments has been grappling with a debt pile of more than $3bn, hurt mainly by a fall in the value of its investments.

In a note earlier in August, J.P. Morgan Securities said the government of Dubai may write off its $1 billion loan to the state-owned entity in exchange for shares and infuse additional capital of up to $600 million to help the struggling group restructure its debt. (Reuters)

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How to increase productivity

How to increase productivity

With the desire to develope skills, knowledge, and competence...

Should I hire friends?

Should I hire friends?

Tamara Pupic looks at whether you should hire friends to work...

Is business aviation on the rise?

Is business aviation on the rise?

The Middle East's business aviation industry is forecast to be...

Most Discussed