Dubai-Mubasher: Dubai Holding Commercial Operations Group (DHCOG), a subsidiary of Dubai Holding, did not proceed with its offer to buy back £500 million ($699.69 million) notes, citing overpriced bonds.
On 3 March, DHCOG invited holders of the £500 million ($699.69 million) outstanding notes to tender them for buy-back.
All the tendered notes demanded purchase prices that were significantly greater than the minimum purchase price, so DHCOG decided against repurchasing any of the bonds, a bourse statement said.
The unit also said it would buy up to £250 million at a minimum price of 99.0%.
