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Union Properties looks at alternative project funding
- United Arab Emirates: Tuesday, December 23 - 2008 at 09:34
Union Properties is looking at issuing up to Dhs2.5bn ($681m) of convertible bonds. Union Properties plans to seek regulatory approval to issue the bonds to 'strategic investors'. Hamood Abdulla Al Yasi, general manager at Emirates International Securities, said selling bonds is a tool to get money and the strategic investor is entitled to an interest dividend of 6% or 7%.
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StaffTuesday, December 23 - 2008 at 09:34 UAE local time (GMT+4)
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