Dubai Investments mulls $272m Islamic bond issue: chief exec
Conglomerate Dubai Investments could look to gather up to 1 billion dirhams ($272.3 million) in 2012 through sale of a sukuk to finance the expansion of its manufacturing units and repay debt.
The company is already in discussions with an Italian lender for a $200 million loan and a sukuk issue will only be taken into consideration if the loan deal does not go through. The statement came from Chief Executive Khalid bin Kalban.
Some of the funds from the sukuk will be used for the expansion of Emirates Float Glass factory, the conglomerate’s glass manufacturing unit.
Syndicate
