Tabreed plans $100 million Islamic bond

Published January 12th, 2004 - 02:00 GMT

Tabreed, the National Central Cooling Company plans to launch a $100 million International Islamic Sukuk Offering (ISO) in the coming weeks, said a company press release. 


The sukuk (bond) will be listed on the Luxembourg Stock Exchange. Abu Dhabi-based National Investor (TNI) has been retained as Sole Advisor and Sole Arranger for the ISO, and TNI together with Credit Suisse First Boston (CSFB) will act as joint-lead managers. The overall syndication and placement structure and strategy is being finalized, according to Tabreed. 


Tabreed has offered district cooling services as a utility in the United Arab Emirates (UAE) for over five years. District cooling is widely used throughout the UAE and around the world, piping chilled water from a centralized plant to a range of residential, commercial and government buildings. Landlords are attracted to the maintenance-free, economic and environmentally friendly cooling benefits of the technology. — ( 



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