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Islamic Finance Briefing - Categorized | Banking, Finance, Market Moves more

UAE banks may refinance rather than repay debt

Posted on 10 January 2012

Banks in the United Arab Emirates may opt to refinance more than $3 billion of bonds due this year should pricing remain at current levels, as they seek to extend the average maturity of their debt.

UAE banks have about $3.49 billion of bonds and sukuk maturing in 2012, according to data compiled by Bloomberg. Most of this debt is held by the country‚Äôs three largest banks, Emirates NBD PJSC, National Bank of Abu Dhabi PJSC and Abu Dhabi Commercial Bank PJSC, the data shows…………………………………….Full Article: Source

 
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