Sunday, May 27, 2012
DUBAI (Zawya Dow Jones)--Dubai's Jebel Ali Free Zone (Jafza) has received consent from holders of its 7.5 billion U.A.E. dirham ($2.04 billion) Islamic bond to repay the debt early.
Jafza received approval to amend the instrument's conditions from holders of 89% of the sukuk shares, the free zone operator said in a statement on the website of the Nasdaq Dubai.
Jafza, which runs the area around Dubai's main Jebel Ali port, sought the amendment early this month, saying it was in "advanced discussions" with a group of banks to secure a financing package to address the debt, originally set to mature in November.
-By Asa Fitch, Dow Jones Newswires, +971 4 446-1685, asa.fitch@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
27-05-12 0616GMT
