Tabreed Secures AED 1.8 Billion Green Financing
National Central Cooling Co. (Tabreed) has announced a significant milestone by securing AED 1.8 billion in new financing to bolster its strategic growth and sustainability initiatives.
Summary
Tabreed has successfully obtained AED 1.8 billion in financing, including a green financing component, to support its strategic growth and sustainability goals.
In a major financial development, National Central Cooling Co. (Tabreed), a leading UAE-based utility company, has secured AED 1.8 billion in new financing. This strategic move is aimed at supporting the company's growth initiatives and enhancing its capital structure. The financing package, which is fully compliant with Islamic Sharia principles, was arranged in partnership with Emirates NBD Bank and Mashreq Bank.
Tabreed's latest financial maneuver is part of its broader strategy to finance its capital needs and diversify its funding sources. The company plans to utilize this financing to meet future investment requirements and expand its operations. Notably, AED 1 billion of the total financing has been allocated within a green financing framework, underscoring Tabreed's commitment to sustainability and environmental preservation.
Khaled Al Marzouqi, CEO of Tabreed, emphasized the importance of this financing in executing strategic investments that accelerate the company's expansion and enhance long-term value. Al Marzouqi also highlighted Tabreed's steadfast commitment to sustainable financial practices.
Ahmad Bin Saeed, the CFO of Tabreed, noted that the Sharia-compliant financing is a cornerstone of the company's capital strategy, reflecting its dedication to financial inclusion and alignment with partner values. By integrating Islamic finance principles into its funding mix, Tabreed is expanding its liquidity base while maintaining a strong investment-grade credit rating.
The financing not only supports Tabreed's acquisition strategy but also strengthens its balance sheet by improving debt maturity profiles and maintaining a robust financial foundation. This strategic step is expected to bolster investor confidence and position Tabreed for continued success in the district cooling sector.
Given the company's strategic initiatives and commitment to sustainable growth, investors are advised to hold their positions in Tabreed. The company's recent financial achievements and its focus on sustainability present a promising outlook for the future.
Source
Summary
Tabreed, a company specializing in the development and supply of district cooling services, announced that it has secured new financing facilities worth 1.8 billion AED. This financing will support its strategic initiatives for growth and capital structure improvement. The funding, compliant with Islamic Shariah law, consists of two tranches in AED and USD, reflecting Tabreed's commitment to providing comprehensive financing solutions aligned with investor preferences. The financing includes a green finance component, with one billion AED allocated within a green financing framework, emphasizing sustainability and environmental preservation. This move will enable Tabreed to accelerate its expansion and enhance long-term value while maintaining strong financial practices. The financing was completed in partnership with Emirates NBD and Mashreq Bank.
