Union Properties confirms news regarding AED750 million loan
Union Properties has sent a release to the DFM, confirming media reports that the company raised AED750 million in debt, to finance its real estate projects. We note that as of the end of September 2015, the company’s gross debt totaled AED1.6 billion, its net-debt-to-equity was 0.25x, whilst its interest coverage ratio was in the red. (DFM)
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