Dubai Holding makes debt payments
Dubai's ruler owned investment company- Dubai Holding Commercial Operations Group LLC has allayed fears of postponing payments by making scheduled distribution payments on three bonds due over the next five years. Loan worth $1.14 billion is set to mature in August 2011 and the recent development will ensure debt commitments falling in the coming period.
The investment firm made a coupon payment of $100-m according to the information provided to the Nasdaq Dubai bourse on Monday. Meanwhile, more Dubai state-run companies including Dubai Holding LLC, having $10.4 billion of interest-bearing debt, may join restructuring bandwagon according to Morgan Stanley in its recently published report.
Bank of America's Merrill Lynch reported Dubai Holding Commercial's bonds to be remunerative in the midst of hopes of the company getting supporting hand to avoid debt restructuring.
London based analysts David Lewis and Tala Boulos expressed that the bonds can prove beneficial despite having a considerable risk factor.
New Zealand News
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