Dubai – Mubasher: National Central Cooling Company (Tabreed) will launch a number of fixed income investor calls, followed by the issuance of a Regulation S senior unsecured US dollar-denominated bond.
The bonds have a tenor between seven and ten years, according to the company's disclosure to the Dubai Financial Market (DFM) on Monday.
The proceeds of the bond issuance will be used to fund acquisitions and for general corporate purposes.
The bond issuance will be supported by ratings issued by both Moody's and Fitch.
It is noteworthy to mention that on 7 October, the company authorised the board for 12 months to issue non-convertible bonds and/or Sukuk valued at $1 billion in one or more tranches.
