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Dubai Holding will pay Sama Dubai’s $300 million loan
Government-owned conglomerate Dubai Holding will pay off Sama Dubai’s three-year…
September 23, 2009 3:00 by kippreport
Government-owned conglomerate Dubai Holding will pay off Sama Dubai’s three-year $300 million loan which matures on September 27, reports Zawya Dow Jones.
“Dubai Holding and its entities will meet their financial obligations in full and on the maturity date,” a Dubai Holding spokesperson told the news agency.
Sama Dubai, a subsidiary of Dubai Holding, raised the loan in September 2006 with a consortium of eight banks, including Commercial Bank of Dubai and Abu Dhabi Commercial Bank.
The developer used the money to finance its real estate projects.