{"id":83485,"date":"2024-04-08T00:00:00","date_gmt":"2024-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/"},"modified":"2024-04-08T00:00:00","modified_gmt":"2024-04-08T00:00:00","slug":"uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/","title":{"rendered":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates"},"content":{"rendered":"

UAE\u2019s<\/strong> National Central Cooling Company (Tabreed) completed a tender offer to <\/strong>repurchase USD 500 mn outstanding trust certificates due in 2025<\/strong>, according to a DFM disclosure (pdf)<\/a> released on Friday. Some USD 200.7 mn of the trust certificates were accepted for repurchase.<\/p>\n

Background: <\/strong>Tabreed announced plans for the buyback in March, after having already repurchased USD 39 mn trust certificates prior to submitting the tender offer. The company\u2019s aggregate face value of repurchased trust certificates \u2014 including those already purchased \u2014 totals USD 239.7 mn out of the outstanding USD 500 mn trust certificates.<\/p>\n

The move comes as Tabreed aims to manage its debt profile and strengthen its balance sheet,<\/strong> the disclosure adds. The company earned shareholder approval in March<\/a> for a USD 1 bn bond and\/or sukuk issuance aimed at funding acquisitions and general corporate purposes sometime over the next year, aiming to up its market share in the UAE and five other countries it is currently operating in, including India, Saudi Arabia, Oman, Bahrain, and Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company received approval to purchase USD 200.7 mn of the trust certificates<\/p>\n","protected":false},"author":1,"featured_media":83486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,199,11,200,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-district-cooling","tag-enterpriseclimate","tag-tabreed","tag-uae","wpautop","entry"],"acf":{"mongo_id":"d6796afc-ca9e-41a7-bc4d-8a4e98e793b2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates","related_issue":[83480],"teaser":"The company received approval to purchase USD 200.7 mn of the trust certificates","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.5b92ddc8-6f83-4fcb-a4d1-4db103afd9e9.mp3"},"yoast_head":"\nUAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates\" \/>\n<meta property=\"og:description\" content=\"The company received approval to purchase USD 200.7 mn of the trust certificates\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-08T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates\",\"datePublished\":\"2024-04-08T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\"},\"wordCount\":172,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\",\"keywords\":[\"DEBT WATCH\",\"district cooling\",\"EnterpriseClimate\",\"Tabreed\",\"UAE\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\",\"name\":\"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates - Climate\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-04-08T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/climate\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#website\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"name\":\"Climate\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\",\"name\":\"Climate\",\"url\":\"https:\/\/enterpriseam.com\/climate\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/25470.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/25470.svg\",\"caption\":\"Climate\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates - Climate","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/","og_locale":"en_US","og_type":"article","og_title":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates","og_description":"The company received approval to purchase USD 200.7 mn of the trust certificates","og_url":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/","og_site_name":"Climate","article_published_time":"2024-04-08T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates","datePublished":"2024-04-08T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/"},"wordCount":172,"publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1","keywords":["DEBT WATCH","district cooling","EnterpriseClimate","Tabreed","UAE"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/","url":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/","name":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates - Climate","isPartOf":{"@id":"https:\/\/enterpriseam.com\/climate\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1","datePublished":"2024-04-08T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/climate\/2024\/04\/08\/uaes-tabreed-buys-back-outstanding-usd-500-mn-trust-certificates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/climate\/"},{"@type":"ListItem","position":2,"name":"UAE\u2019s Tabreed buys back outstanding USD 500 mn trust certificates"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/climate\/#website","url":"https:\/\/enterpriseam.com\/climate\/","name":"Climate","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/climate\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/climate\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/climate\/#organization","name":"Climate","url":"https:\/\/enterpriseam.com\/climate\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/25470.svg","contentUrl":"https:\/\/ent.news\/internal\/25470.svg","caption":"Climate"},"image":{"@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/climate\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pgVl2y-lIx","_links":{"self":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/83485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/comments?post=83485"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/posts\/83485\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/issue\/83480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media\/83486"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/media?parent=83485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/categories?post=83485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/tags?post=83485"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/brand?post=83485"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/climate\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=83485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}