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Thu 10 Feb 2011 01:28 PM

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Tabreed rises on refinancing deal

Abu Dhabi index rises 0.2%; Dubai index slips 0.1% in early trade on Thursday

Tabreed rises on refinancing deal
RISING STOCK Tabreeds stock rose 7.3 percent in early trading after the company reached a refinancing agreement with its creditors (Getty Images)

Tabreed, Abu Dhabi's indebted district cooling firm, rose 7.3 percent in early trading after the company reached a refinancing agreement with its creditors.

Tabreed's creditors agreed to refinance AED2.63bn ($716m) in debt and the firm also secured a AED150m revolving credit facility from its lenders.

The Abu Dhabi index rose 0.2 percent. The Dubai index slipped 0.1 percent.

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