DIFC Investments to make payment on sukuk

Commits to make profit distribution on $1.25bn Islamic bond

DIFC Investments, part of the group which operates Dubai's tax-free business hub, said its unit will make a periodic profit distribution on its $1.25 billion Islamic bond on time, a statement said on Wednesday.

The amount to be repaid for the three month period from June 14 to Sept 13 by Dubai Sukuk Centre is $2.88 million, a statement posted on Nasdaq Dubai exchange said.

DIFC Investments has a debt pile of more than $3 billion.

In a note earlier in August, JP Morgan Securities said the government of Dubai may write off its $1 billion loan to the state-owned entity in exchange for shares and infuse additional capital of up to $600 million to help the struggling group restructure its debt.

Print
  • Twitter
  • submit to reddit
comments powered by Disqus

Editor's Choice

Ramadan Kareem

Hala Ramadan

#UAEReads

News From The UAE

UAE Prayer Times

  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:12 05:32 12:25 15:50 19:15 20:45

Middle East

International

Cinema listing January 15 to January 21

Poll

Support #UAEReads Initiative

Most Popular

In Case You Missed It ...

eSuggestion eComplain eComplain eSuggestion

Follow
Emirates 24|7

Your Feedback

Are you satisfied with your browsing experience?

Prayer Time

  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:12 05:32 12:25 15:50 19:15 20:45
  • Abu Dhabi 04:16 05:36 12:29 15:54 19:19 20:49
  • Al Ain 04:10 05:30 12:23 15:48 19:13 20:43
  • Ras Al Khaimah 04:08 05:28 12:21 15:46 19:11 20:41
  • Fujairah 04:06 05:26 12:19 15:44 19:09 20:39
  • Sharjah 04:12 05:32 12:25 15:50 19:15 20:45
  • Ajman 04:12 05:32 12:25 15:50 19:15 20:45
  • Um Al Quwain 04:12 05:32 12:25 15:50 19:15 20:45