09 Jul 2010
(MENAFN) Banks have agreed to a two-month extension of $555 million revolving credit facility to the Dubai Holding Commercial Operations Group (DHCOG), the real estate and hospitality arm of Dubai Holding, Reuters reported.
Bankers familiar with the situation said it is a normal credit extension purely on commercial terms that was agreeable to all parties and does not imply the company is seeking a debt restructuring.
The extension is required to facilitate the finalisation of the documentation to renew the facility, the company statement said.
The group carried out a major re-alignment of its business during 2009, including the consolidation of its real estate businesses, Sama Dubai, Tatweer Dubai and Dubai Properties Group. It said last month it has undertaken a rigorous internal organisational re-alignment of various subsidiaries. Dubai International Capital, an investment unit of Dubai Holding with a $1.25 billion loan due in June, had sought a three-month extension on some of its payments on May 27.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more