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Jafza reportedly seeks $1.85bn via Sukuk sale

Jebel Ali Free Zone plans to raise a combined $1.85bn from a bank facility and the sale of Islamic bonds to help refinance its Dhs7.5bn ($2bn) debt maturing in November, Bloomberg has reported, citing three people familiar with the matter. The company plans to raise $1.2bn from a bank facility and $650m from sukuk sale and may also use $190m from internally generated cash to refinance the debt, said the people. The planned Islamic bonds may mature in 2019, said two other people.