Tabreed Secures Approval for $2 Billion Non-Convertible Debt Issuance
Dubai-listed National Central Cooling Company PJSC, known as Tabreed, has obtained shareholder approval to issue up to $2 billion in additional non-convertible debt instruments, including bonds or sukuk. The authorization was granted during the company's Annual General Assembly meeting held on Tuesday. This strategic move aims to bolster Tabreed's financial
Region
Saudi Electricity Company Secures $4 Billion Credit Line
Saudi Electricity Company (SEC) has finalized a significant financial arrangement, securing a SAR 15 billion ($4 billion) joint syndicated revolving credit facility. This substantial credit line has been arranged with the support of 15 major regional and global banking institutions.
Dubai’s Myco Secures $10M in Funding, Eyes Global Growth
Dubai-based Web3 streaming platform Myco has raised $10 million in the first closing of its Series A funding round, pushing its post-money valuation to $80 million. This influx of capital will fuel Myco’s expansion plans and migration to blockchain technology,
Kuwait Finance House Divests Sharjah Islamic Bank Stake for $351 Million
Kuwait Finance House has completed the sale of its entire stake in Sharjah Islamic Bank, fetching $351 million. This divestment marks a significant shift in the bank’s investment strategy, reflecting a broader trend of strategic asset reallocation in the Gulf
