Ipic repays $3.7 bn debt due 2013

International Petroleum Investment Co (Ipic) has repaid $3.75 billion in ahead of their 2013 maturity dates, the Abu Dhabi investment vehicle said on Wednesday.

The two facilities were taken in 2010.   

"Our issuance and subsequent prepayments of our facilities clearly demonstrate that IPIC is prudently managing its liabilities," Khadem Al Qubaisi, Ipic's managing director, said in a statement.  

State-owned Ipic priced a bumper $3.75 billion three-tranche deal in October which it said would be used to refinance debt.