Dubai Electricity and Water Authority Repays Syndication Loans Before Maturity Date

Home
Investor Relations
EasyPay
Dubai Electricity & Water Authority
  • العربية
16 April 2011

Dubai Electricity and Water Authority repays syndication loans before maturity date

Total amount repaid is AED 5.4 billion, out of which AED 2.7 billion is payable on 13th of next October. Dubai Electricity and Water Authority intends to repay syndication loans to the value of AED 5.4 billion during this month. DEWA is going to repay syndication loans due on 13th April 2011 to the value of AED 2.7 billion, and on the same date it will repay syndication loans due on 13th October 2011 – six months prior to maturity date. HE Saeed Mohammed Al Tayer MD & CEO of DEWA stated: “DEWA’s financial position is solid and strong, and it is capable of repaying its syndication loans not only when they become due but also prior to the maturity date. This can be attributed to the judicious financial policies adopted and implemented by DEWA.” HE Al Tayer further added: “By 13th of this month DEWA will pay a total amount of AED 5.4 billion out of total syndication loans of AED 8.08 billion which it has obtained in 2009.” HE A Tayer pointed out that repaying the amount of AED 2.7 billion prior to its maturity date will save DEWA an amount up to AED 52 million as interests which shall be payable unless this amount was not repaid. HE Al Tayer stressed once again the fact that Dubai Electricity and Water Authority moves steadily and is capable of fulfilling its liabilities and obligations efficiently and ably.