Shuaa Capital plans to raise AED551 mn through bonds

DUBAI/September 20: The Shuaa Capital board on Monday, September 20, approved the issuance of bonds up to an amount of $150 million (AED550.5 million) through a private placement to be listed outside the UAE.

The shareholders’ ratification will be sought to authorise the board or the chief executive officer (CEO) or the chief financial officer (CFO) to undertake all procedures that are deemed by the board to be necessary or desirable in connection with the issuance of the bond

The company’s borrowings as of June end stood at AED2.277 billion, out of which, 81.82 per cent or AED1.863 billion is repayable within 12 months from June end.

 

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