Dubai – Mubasher: The National Central Cooling Co. (Tabreed) has signed an Islamic finance facilities agreement valued at AED 1.53 billion with a number of banks, according to a bourse filing.
The arrangers are Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), and Mashreq Al Islamic, an Islamic banking division of Mashreq Bank.
The deal aims to refinance part of Tabreed’s existing senior bank debt provided by its creditor banks on 24 December 2014, as well as to provide additional funds for capital expenditure and investment purposes.
The facilities agreement’s termination date is set on 30 June 2027.
