| Jebel Ali Free Zone FZE has successfully priced yesterday the issuance of US$ 650 million Sukuk Certificates due 2019, marking the company's first US dollar-denominated issuance and its first transaction in the international debt capital markets since 2007. The certificates pay a profit rate to investors of 7.0% per annum.
The proceeds of the Sukuk will be used to partly refinance JAFZ 's outstanding AED 7.5 billion Sukuk due November 2012, ahead of the stated maturity. JAFZ will also contribute proceeds of AED 4.4 billion bank facility and its own cash sources towards the redemption"..............................................Full Article: Source
|