Dubai – Mubasher: The National Central Cooling Company (Tabreed) has no intention to repurchase bonds in 2017, Al Khaleej newspaper quoted CEO Jasim Thabet saying.
The company may consider buying bonds in 2018, but this will depend on the circumstances and developments, Thabet added.
The sale of convertible bonds to Mubadala Development Company was part of Tabreed's restructuring plan.
The AED 1.9 billion bonds will mature in April 2019, the CEO added.
The company’s liquidity stands at AED 390 million, with expectations of good cash inflows in 2019, Thabet noted.
Tabreed is working on new projects in the GCC region that will add another 60,000 RT over the next two years.
