Dubai Holding Commercial Operations Group confirms $500m bond repayment

Dubai: The Dubai Holding Commercial Operations Group (DHCOG) confirmed on Wednesday the repayment, on February 1, of a $500 million bond and three scheduled coupon payments on its Medium Term Notes.

Ahmad Bin Byat, Chief Executive Officer, Dubai Holding said: “Dubai Holding Commercial Operations Group will repay the US dollar bond, and make the coupon payments, from its internal cash flow. Today’s announcements reaffirm DHCOG’s proven track record of meeting its financial obligations in full when they are due."

“DHCOG’s operating liquidity remains good. It has robust hotel management, telecom, free zone and property businesses that contribute a healthy cash flow,” Byat said.