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Ras al Khaimah (RAK)

RAK to settle $519m of debt

Fri, 2010-12-10 11:46 — newsdesk

Ras al Khaimah (RAK) is paying back US$519 million (Dh1.9 billion) of government debt early and replacing most of it with longer-dated borrowings.
RAK also wants to consolidate its debt within RAK Capital.
Acting through its Investment and Development Office (IDO), the Government last month told investors it was willing to buy back or exchange up to about $600m of debt.

Source: 

http://www.thenational.ae/business/rak-to-settle-519m-of-debt

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