Thursday, May 31, 2012
DUBAI (Zawya Dow Jones)--DIFC Investments, the investment arm of Dubai's international financial centre, has secured around $1 billion in financing that is majority guaranteed by the government, a loan that will help it repay an Islamic bond, or sukuk, due in June, two people familiar with the matter said on Thursday.
"We've concluded a major refinancing deal with a few banks. I can confirm it is no longer a work in progress. We will repay on time and in full our sukuk," said an official at DIFCI who wished not be named.
A Dubai government source said the government "will guarantee the majority of the (DIFCI) loan, which will be a little bit over $1 billion."
-By Nicolas Parasie and Leila Hatoum, Dow Jones Newswires, +9714 446 1681, nicolas.parasie@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
31-05-12 0722GMT
