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UAE’s Empower prepays USD52.8m loan installments

20 Aug 2015

(MENAFN) Emirates Central Cooling Systems Corporation (Empower), a district cooling services provider, has prepaid two loan installments of USD52.8 million prior to their maturity.

The two installments are part of its syndicated loan facility of USD600 million and the bilateral loan facility of USD127.8 million, the Emirati company said in a statement.

The company has prepaid on July 30, 2015 its syndicated loan installment of USD40 million. It has also settled on August 4, 2015, an amount of USD12.8 million representing the bilateral loan installment.

“We have pre-paid the syndicated loan facility installment five months prior its maturity while the bilateral loan facility installment was paid six months before its scheduled date,” Empower CEO said.

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