Emaar to roll over Dhs4.5bn loans into long-term deals
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Emaar to roll over Dhs4.5bn loans into long-term deals

Emaar to roll over Dhs4.5bn loans into long-term deals

Emaar Properties is planning to roll over most of its loans maturing in 2010 into long-term project financing deals, Emirates Business has reported, citing company sources. Over half of the Dhs8.625bn interest bearing loans and borrowings as of December 2009, Dhs4.5bn, is maturing within 12 months from December 31, 2009.

    "Emaar's debt position is very comfortable and the company has one of the lowest debt-to-equity ratios. The loans maturing in the next year are primarily bridge loans for Emaar's international projects, which will be converted into longer term project financing in the next one year," a spokesperson for Emaar told the newspaper.
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