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JAFZA to meet debt obligations with new Sukuk and loans

Posted on 08 February 2012

The Jebel Ali Free Zone (JAFZA) has been consulting a consortium of banks over how to repay its AED 7.5 billion ($2 billion) Sukuk due in November. JAFZA is reportedly in talks with Dubai Islamic Bank, National Bank of Abu Dhabi and Standard Chartered about how to meet the obligation, without appointing any of the banks to a particular role.
Sources have told Reuters that most of the liability is set to be rolled over using a syndicated loan and a new Sukuk………………………………………..Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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