Dubai's Jafza proposes $2bn three part debt plan

22 March 2012

Dubai's Jebel Ali Free Zone (Jafza) has proposed a three-part refinancing plan to creditors for its $2.04bn sukuk which matures in November, Meed has reported. Jafza proposed reducing the debt level by Dhs700m ($190.58m), raising a new bank loan of about Dhs4bn and issuing a new Islamic bond worth around Dhs2.4bn. New financing is expected to be put in place by July, the report said.

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