Settlement of AED 735m Follows Successful Completion of Recapitalization Program
National Central Cooling Company PJSC (‘Tabreed’), the world’s leading district cooling company, announced today that it has repaid in full its 06 Sukuk. The repayment follows the completion of the Company’s recapitalization program on 1 April 2011.
The total amount paid today to certificate holders of the 06 Sukuk is AED 735 million.
Waleed Al Mokarrab Al Muhairi, Chairman of Tabreed said:
“The strong capital structure that was put in place with the recapitalization program underpins Tabreed’s long-term growth potential. The repayment of the 06 Sukuk today was contemplated in our structuring of the recapitalisation program and improves the Company’s overall financial position.”
The Sukuk 06 was launched in July 2006 and matured today, 20th July 2011.