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Dubai’s Empower to seek financing facilities of up to $1.5bln

By Zawya

By Staff Writer

The Dubai-listed Emirates Central Cooling Systems Corporation (Empower) said its board has approved entering into new three-year unsecured conventional and Islamic financing facilities of up to AED5.5 billion ($1.5 billion).

The district cooling provider, majority owned by the Government of Dubai, said the facilities will be used to refinance existing debt and support general corporate purposes.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@lseg.com

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