Wednesday 16 December 2009

Ahli United Kuwait Confirms Receipt of Nakheel Payment

Ahli United Bank of Kuwait informed the Kuwait Stock Exchange today that it had received US$23.4 million from Nakheel representing principal plus interest.     Since it's likely that all bond holders were paid on the same date, this implies that Nakheel's payment on its sukuk maturing this Monday has been made.

Earlier AUK had disclosed exposure to Nakheel of some US$20 million.  With this payment, AUK would have no further exposure to Nakheel or Dubai World.

Here's today's announcement to the KSE.

[8:42:5]  
ِ.(اهلي) يستلم مبلغ 23,4 مليون دولار امريكي من شركة النخيل الاماراتية ‏
يعلن سوق الكويت للاوراق المالية بان البنك الاهلي الكويتي افاد بانه ‏
قد استلم مبلغ 23,4 مليون دولار امريكي يمثل اصل الدين مع الفوائد ‏
المستحقة فى تاريخ الاستحقاق من شركة النخيل العقارية التابعة لمجموعة ‏
دبي العالمية المملوكة لحكومة دبي.‏



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