Wednesday 12, April 2017 by Georgina Enzer
Kuwait's ALARGAN completes bond repurchase
Issued in April 2012, ALARGAN International Real Estate Company has today completed the repurchase of its bond after coming to maturity, repurchasing KWD 17.4 million in bonds.
“The Company has today a healthy funding structure with minimal reliance on short-term borrowing and more liquidity, enabling it to continue growing in real estate development operations in our present markets and new ones. The Company’s ongoing changes to its business model have contributed to lower the overall risk generated from the sector in which it operates through the proportion of revenues coming from recurring rental income steadily increasing over time,” said Khaled Al-Meshaan, CEO and Vice Chairman of the Board of Directors of ALARGAN International Real Estate Company.