By Hadeel Al Sayegh
DUBAI: Kuwait’s National Real Estate Company (NREC) in a bourse statement on Tuesday denied it plans to tap new financing.
The company’s chief financial officer Shiv Hiremath told Reuters on Monday that the company planned to issue a $500 million sukuk early next year to help fund new projects and to refinance existing debt.
“The company’s policy is to analyse its capital structure and financing options for its requirements towards a project or the company as a whole,” the bourse statement said.
“It has not looked at any contract or committed to any new financial activity,” the statement said.
(Editing by Jason Neely)
Source: Reuters