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Abu Dhabi Ports mulls $1bn bond

Abu Dhabi, July 20, 2010

State-owned Abu Dhabi Ports Company (ADPC) may sell up to $1 billion in bonds early next year to finance the Khalifa Port & Industrial Zone (KPIZ) in Abu Dhabi, its chief financial officer said.

ADPC has appointed National Bank of Abu Dhabi as financial adviser to draw up a long-term financial strategy, said a report in our sister newspaper, the Gulf Daily News.

'One of our options is a sukuk or bond in the first quarter of 2011 of about $1 billion,' Ala Khannak said.

In a telephone interview, Khannak said the ports operator is working closely with Abu Dhabi's Debt Management Office.

ADPC is developing the $2.18 billion KPIZ project, located midway between Abu Dhabi and Dubai in Taweelah. – TradeArabia News Service




Tags: abu dhabi | ADPC | bond | KPIZ |

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