Abu Dhabi's Aldar Properties to extend debt maturities

Date

2/18/2016 1:23:10 PM

(MENAFN- The Peninsula)

ABU DHABI: Abu Dhabi's Aldar Properties plans to extend maturities of its 6 billion dirham($1.6 billion) debt which includes a $750 million sukuk issueits chief financial officer said on Monday.

The company is talking to banks about extending maturitieson the debt which in addition to the sukuk includes loans maturing in the next three years Greg Fewer told reporters on aconference call about its earnings.

Aldar is unlikely to be impacted by a fire at one of itsprojects in Kazakhstan because it is not the owner he added.

The company is keeping a close eye on the real estate marketin Abu Dhabi which has been seeing a slowdown in recent monthsTalal al-Dhiyebi executive director at Aldar said on the samecall.

Reuters

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.