Dubai considers refinancing of debt in 2014

(MENAFN- Khaleej Times) Du is looking into refinancing debt due next year and in 2015 to take advantage of favourable interest rates, even as the Dubai-based phone company has enough cash to settle the loans. Du, whose shareholders include UAE state funds, is talking to banks and has received a "good response," Ahmed Al Sayegh, senior director of corporate treasury, said in an interview on Wednesday. He will present the available rates to management to make a decision. "The market has appetite and the market is good," he said. "It's not that I need the funds, we're very well placed as far as 2014 is concerned. But we need to look longer term. I am not cash-strapped, I have cash, I can settle off all the loans easily and still be cash positive."