Dubai, Jan 25th, 2012 (WAM)--Dubai Holding Commercial Operations Group (DHCOG) confirmed today the repayment, on February 1, of a US $500 million bond and three scheduled coupon payments on its Medium Term Notes.
Ahmad Bin Byat, Chief Executive Officer, Dubai Holding said: "Dubai Holding Commercial Operations will repay the US dollar bond, and make the coupon payments, from its internal cash flow. Today's announcements reaffirm DHCOGDHCOG's proven track record of meeting its financial obligations in full when they are due.""DHCOG's operating liquidity remains good. It has robust hotel management, telecom, free zone and property businesses that contribute a healthy cash flow."Details on the Medium Term Notes are:The $500 million Floating Rate Medium Term Note ($3million LIBOR + 0.375% p.a. floating rate) due on the 1st February, 2012. The total coupon payment of $1,027,900 is for the period 1st November, 2011 to 1st February, 2012. The EURO 750 million Fixed Rate Medium Term Note (4.750% p.a.) due on the 1st February, 2012. The total coupon payment of EURO 35. 625million is for the period 1st February, 2011 to 1st February, 2012. The GBP 500 million Fixed Rate Medium Term Note (6.000% p.a.) due on the 1st February, 2012. The total coupon payment of GBP 30million is for the period 1st February, 2011 to 1st February, 2012.Copyright Emirates News Agency (WAM) 2012.
