Government of Dubai repays $600 m Sukuk Certificates

Dubai - Upon maturity, all the certificates were redeemed in full by making the required payment through the paying agent to the holders of the certificates, along with accrued profit.

Dubai The Government of Dubai, acting through the Department of Finance (DOF), announced that the $600 million Sukuk Trust Certificates issued on 2 May 2012 under its $5 billion Trust Certificate Issuance Programme, reached maturity on 2 May 2017.
Upon maturity, all the certificates were redeemed in full by making the required payment through the paying agent to the holders of the certificates, along with accrued profit.
Abdulrahman Saleh Al Saleh, DOF Director General, said, "This settlement reaffirms Dubai Government's commitment to deal with its repayment obligations in a proactive manner, in line with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the ongoing support from Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the close follow-up from Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. It also strengthens the government's resolve to honour all its financial obligations on time".