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Tabreed Completes Tender Offer for its 08 SUKUK

Sunday, May 22, 2011

National Central Cooling Company PJSC (‘Tabreed’),  the Abu Dhabi-based utility company, today announced that it has completed the tender offer in relation to its 08 Sukuk by way of delivery of the relevant shares. This announcement follows the regulatory approval given by the UAE Ministry of Economy on 17th May 2011 approving its planned capital increase in relation to its 08 Sukuk, and the earlier approval by 08 Sukuk holders for Tabreed’s tender offer as disclosed by Tabreed on 28th  March 2011.

The Company’s tender offer for the 08 Sukuk formed a part of Tabreed’s recapitalization program – approved by Tabreed shareholders on 30th May 2010 and which completed on 1st April 2011.  The completed recapitalization program provides the Company with a stable capital structure and long-term funding for future growth

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