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With these prepayments and payment of DIB facility of $128 million, Empower has fully settled its term loan facilities for a total amount of $728 million (Dh2.67 billion) and the company will have zero debt on its books at the end of the year.
"We have pre-paid the loan facility installments two years prior to its final maturity. This reflects the robustness and sustainability of our business model and our prudent financial strategy that is paying off significantly," Ahmad bin Shafar, chief executive officer of Empower, said.
He said Empower has prepaid its loan installments in the past as well under bilateral and syndicated loan facilities.
- business@khaleejtimes.com
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