GFH fully settles $200m sukuk

Dubai: Gulf Finance House said on Sunday it has fully settled its $200 million (Dh734 million) sukuk, which was originally drawn in 2007.

The facility, which was payable over several tranches with final maturity in July 2018, has now been settled with a recent payment of an outstanding amount of $34 million, the GFH said in a statement posted on Dubai Financial Market’s website.

GFH posted a 9 per cent increase in its consolidated net profit for the first quarter to March.

The total net profit rose to $36.89 million (Dh135.5 million) in the three months to March up from $33.55 million in the first quarter of 2017.