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FINANCIAL NEWS
Dubai’s Emaar plans issuing USD500 m bonds
07 Jan 2014
(MENAFN) Dubai’s Emaar Properties has announced its plan of redeeming USD500 million convertible bonds next month, according to Gulf Daily News.
Paper worth USD237.5 million was still outstanding following an earlier conversion of the bonds into stock late in 2013 approved by Emaar’s board.
Shares of Emaar reached as much as 103.7 percent in 2013, thanks to the returning confidence in Dubai’s real estate sector and the wider economy.
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