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Saturday, November 14 - 2009

Aldar has funds to cover $1.5bn debt, says report

  • United Arab Emirates: Wednesday, June 17 - 2009 at 11:30

Standard Chartered Bank has said in a new report that Aldar Properties has sufficient funds to cover the $1.5bn of debt maturing over the next two years. With more than $4bn in liquid funds at the end of first quarter of 2009 and access to $862mn in undrawn credit facilities, the bank has given a 'stable' credit outlook to Aldar and recommended investors 'buy' Aldar's 8.75% bond maturing in 2014.

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