Dubai Holding pays in full $250m loan

by Andy Sambidge

Dubai Holding Commercial Operations Group (DHOG), the holding company of Dubai Holding’s Property, Business Parks, and Hospitality verticals, announced on Monday it had repaid in full a $250m loan to BNP Paribas.

The bilateral loan, taken out as a general corporate facility, was repaid on the maturity date.
The announcement comes less than a week after Dubai Holding said it had paid back in full a $300 million loan belonging to its Sama Dubai property unit.

Sama Dubai is the property arm of Dubai Holding and is being merged with local firms Dubai Properties, leisure developer Tatweer, and Emaar Properties.

Dubai Holding said in August it will reorganise its business into four operating units in a bid to cope with the impact of the fallout of the global economic crisis.

Dubai World's property unit Nakheel has $3.5 billion worth of Islamic bonds which mature on December 14.



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