Emirates REIT to meet certificate holders after new sukuk terms agreed
- Date: 23-Nov-2022
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
Emirates REIT to meet certificate holders after new sukuk terms agreed
Dubai-based real estate investor Emirates REIT has received sufficient support to proceed with the new terms of its $400 million sukuk.
The new terms, announced earlier this month, involve exchanging every $1,000 in cash for a new certificate of $950 and $50 in cash, and received support from a group certificate holders.
Emirates REIT said it had now passed the 75% threshold, with 84% of certificate holders casting votes, 99% of whom are in favour of its consent solicitation ahead of the December 2 deadline. The real estate investment trust is to meet with them on December 6 to approve it, the company said.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
[email protected]
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2022
Select Sector 
Select Country 
