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Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

Jafza repays $2bln Islamic bond

Posted on 25 June 2012

Dubai state-owned industrial hub Jebel Ali Free Zone (Jafza) repaid in full a 7.5 billion dirhams ($2.04 billion) Islamic bond, or sukuk, on June 21, five months ahead of maturity, a regulatory filing from the company said on Sunday.
The early redemption of the sukuk certificates was expected after the company, a unit of state conglomerate Dubai World , secured agreement from bondholders to change the terms of the notes last month. The sukuk was refinanced through a $1.2 billion sharia-compliant loan, along with a new sukuk issue of $650 million and the company’s own cash resources………………………………………..Full Article: Source

 
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