Ahmad Bin Byat, Chief Executive Officer, Dubai Holding said: "Dubai Holding Commercial Operations Group will repay the US dollar bond, and make the coupon payments, from its internal cash flow. Today's announcements reaffirm DHCOG's proven track record of meeting its financial obligations in full when they are due.
"DHCOG's operating liquidity remains good. It has robust hotel management, telecom, free zone and property businesses that contribute a healthy cash flow."
Details on the Medium Term Notes are:
The $500,000,000 Floating Rate Medium Term Note (3M USD LIBOR + 0.375% p.a. floating rate) due on the 1st February, 2012. The total coupon payment of $1,027,900 is for the period 1st November, 2011 to 1st February, 2012.
The EURO750,000,000 Fixed Rate Medium Term Note (4.750% p.a.) due on the 1st February, 2012. The total coupon payment of EURO35,625,000 is for the period 1st February, 2011 to 1st February, 2012.
The GBP 500,000,000 Fixed Rate Medium Term Note (6.000% p.a.) due on the 1st February, 2012. The total coupon payment of GBP 30,000,000 is for the period 1st February, 2011 to 1st February, 2012.
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Dubai Holding Commercial Operations Group confirms repayment of $500m bond
- United Arab Emirates: Thursday, January 26 - 2012 at 09:53
- PRESS RELEASE
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Dubai Holding Commercial Operations Group (DHCOG) confirmed the repayment, on February 1, of a US $500m bond and three scheduled coupon payments on its Medium Term Notes.
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Posted by Nadeen El AjouThursday, January 26 - 2012 at 09:53 UAE local time (GMT+4)
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