Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai Group completes a€¨$6billion debt restructuring  Join our daily free Newsletter

MENAFN - Khaleej Times - 25/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai Holding, the global investment holding company, confirmed on Thursday that its financial services arm, Dubai Group, has reached final agreement with all financial lenders regarding the restructuring of approximately 6 billion of bank facilities. Another 4 billion of related party debt has been subordinated to the claims of the bank creditors



As per the agreement, lenders agreed to extend maturity dates to December 31, 2016 for secured facilities and to December 31, 2024 for partially secured and unsecured facilities



Ahmad bin Byat, Chief Executive Officer, Dubai Holding, said: "We have successfully completed the finacial restructuring of Dubai Group. This was a complex set of negotiations given the number of lenders involved and I would like to thank all stakeholders for their cooperation.




Dubai Holding also announced the appointment of a new Board of Directors for Dubai Group post restructuring



Fadel Al Ali, who was Dubai Group's CEO over the last few years, has been appointed chairman



Aidan Birkett, Michael McLoughlin and Abdullah Sharafi have been appointed as independent non-executive directors



Dubai Holding also confirmed that Ahmed Al Qassim was appointed as the chief executive officer of Dubai Group and Board member

 


Khaleej Times




  MENA News Headlines
 Jul 31 2016 - Oman aims USD 46.61bn to boost tourism sectorMENAFN
(MENAFN) Oman's main driver in the next 10 years will be tourism in terms of employment and contribution to local tourism.Moreover, the Sultanate tourism strategy (2016-40) has been viewed with a ...

 Jul 31 2016 - Saudi's Holding Co. net profit drops by 22 percentMENAFN
(MENAFN) Saudi Arabia's kingdom Holding recorded a 22 percent drop in second quarter net profit, as income from associated and dividends dropped.Moreover, the firm made a profit of USD49.5mn in the ...

 Jul 31 2016 - Saudi Arabia economy to recover by 2017MENAFN
(MENAFN) Saudi Arabia's GDP growth is forecasted to slow to 1.2 percent this year, but will recover to 2 percent in 2017.Additionally, inflation grew in recent months to more than 4 percent an energy ...

 Jul 31 2016 - Oman's USD1.8bn new airport on scheduleMENAFN
(MENAFN) Oman's USD1.8bn new Muscat International Airport is on schedule for the opening of the airport in the coming year.Additionally, the new airport will handle 12mn travelers per year, while the ...

 Jul 31 2016 - Oman's real estate deals reach USD15.97bn in H1MENAFN
(MENAFN) The value of traded deals in the real estate sector in Oman reached USD15.97bn in the first half of this year, while the collected fee reached USD110.06bn.Accordingly, the number of real ...

 Jul 31 2016 - Qatar- HH the Emir Sends Cable of Congratulations to King of MoroccoQatar News Agency
(MENAFN - Qatar News Agency) Doha, July 30 (QNA) - HH the Emir Sheikh Tamim bin Hamad Al-Thani on Saturday sent a cable of congratulations to King Mohammed VI of the Kingdom of Morocco on the ...

 Jul 31 2016 - Qatar- HE Prime Minister Sends Congratulations to King of MoroccoQatar News Agency
(MENAFN - Qatar News Agency) Doha, July 30 (QNA) - HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani on Saturday sent a cable of congratulations to King ...

 Jul 31 2016 - Turkish President Meets Qatari Foreign MinisterQatar News Agency
(MENAFN - Qatar News Agency) Ankara, July 30 (QNA) - President Recep Tayyip Erdogan of the Republic of Turkey met here on Saturday with Qatar's Minister of Foreign Affairs HE Sheikh Mohammed bin ...

 Jul 31 2016 - Turkish Prime Minister Meets Qatar's Minister of Foreign AffairsQatar News Agency
(MENAFN - Qatar News Agency) Ankara, July 30 (QNA) - Turkey's Prime Minister Binali Yildirim met here on Saturday with Qatar's Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman Al ...

 Jul 31 2016 - Afghan forces retake district in southern AfghanistanSaudi Press Agency
(MENAFN - Saudi Press Agency) Kabul, Shawwal 26, 1437, July 31, 2016, SPA -- Afghan forces managed to retake control of a district in southern Afghanistan's Helmand province late on Saturday, ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help