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Tue 2 Dec 2008 03:07 PM

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DIFC Investments repays $500mn loan in full

The investment arm of Dubai International Financial Centre repays loan for UK acquisition.

DIFC Investments, the investment arm of the Dubai International Financial Centre, announced on Tuesday that it has repaid a $500 million syndicated loan facility in full.

The loan was due to mature on December 5, the company said in a statement.

DIFC Investments manages the Dubai International Financial Centre's commercial operations and the investments.

DIFC Investments’ rating was recently reviewed and reconfirmed by Standard & Poors at “A+”. It has also been reviewed and reconfirmed by Moody’s around the same period at “A1”.

DIFC Investments signed the $500 million loan in March 2008 to back its acquisition of UK's SmartStream Technologies Group.

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