Wednesday, May 02, 2012
(This story was originally published Tuesday.)
DUBAI (Zawya Dow Jones)--Abu Dhabi government-owned International Petroleum Investment Co., or IPIC, said Tuesday it has made an early repayment of 1.89 billion U.A.E. dirhams ($514 million) of debt that was due to mature in 2013.
"IPIC continues to generate significant income from its investments and, following the prudent guidelines of its board of directors, has used part of its excess liquidity to retire a portion of its outstanding liabilities," IPIC's Managing Director Khadem Al Qubaisi said in a brief emailed statement.
"IPIC will continue to focus on the success of its business and will proactively manage its balance sheet accordingly," he added.
-By Tim Falconer, Dow Jones Newswires; +9714 446-1690; tim.falconer@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
02-05-12 0344GMT
