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FINANCIAL NEWS
Qatar’s Barwa repays $1.16b in financial facilities
06 Apr 2010
(MENAFN) Qatar’s Barwa said that it has repaid $1.16 billion in Islamic financial facilities involving the sale of some assets and on settlement of claims for projects undertaken for the government and other third parties, QNA reported.
All of earnings from this transaction were used to pay back Tamweelat financing agreements, Doha-based Barwa said in a statement to the local bourse.
The repayment comes as part of Barwa’s efforts to reduce the overall cost of debt and to leverage it in a productive way.
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