Wednesday, Jun 13, 2012
DUBAI (Zawya Dow Jones)--DIFC Investments, the investment arm of Dubai's international financial centre, said Wednesday it repaid a $1.25 billion Islamic bond due today.
DIFCI earlier in June said it raised $1.035 billion through a syndicated facility to help repay the sukuk, which was seen as one of Dubai's most challenging repayment tests for its debt maturing this year.
"This transaction reaffirms our commitment to meet our obligations," Abdullah Mohammed Saleh, governor of DIFC and chairman of DIFC Investments, said in an emailed statement.
Boutique investment bank Moelis & Co acted as financial advisor to DIFCI. The facility used to repay the sukuk included some form of government guarantee, people familiar with the matter said at the time.
-By Nicolas Parasie, Dow Jones Newswires, +9714 446 1681, nicolas.parasie@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
13-06-12 1243GMT
