Jan 26 2012 |
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Dubai Holding Unit To Repay $500M Bond On Feb 1
Thursday, Jan 26, 2012
(This story was originally published Wednesday.)
DUBAI (Zawya Dow Jones)-- Dubai Holding Commercial Operations Group , the real-estate and hospitality arm of Dubai Holding , said Wednesday it will repay a $500 million bond and make three scheduled coupon payments from its internal cash flow on February 1.
" DHCOG 's operating liquidity remains good. It has robust hotel management, telecom, free zone and property businesses that contribute a healthy cash flow," said Chief Executive Officer Ahmad Bin Byat in an emailed statement. DHCOG is part of Dubai Holding , the conglomerate owned by Dubai's ruler Sheik Mohammed bin Rashid Al Maktoum.
The coupon repayments which are due on February 1 are related to three medium term notes of $500 million, EUR750 million and GBP500 million value.
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
26-01-12 0401GMT
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