Final instalment for Sama loan settled

Dubai Holding has paid the final instalment of $50 million (Dh183.50m) for group entity Sama Dubai, completing the full repayment of $300m loan.

"As we have previously stated, Dubai Holding and its entities will meet their financial obligations in full and on the maturity date," a Dubai Holding spokesman said yesterday.

"The Sama Dubai loan matured on October 5. The final instalment of $50m was settled on [the] same day," the spokesperson added.

Sama Dubai, the realty investment arm of Dubai Holding, raised the three-year loan in 2006 with a group of eight banks to finance its property projects.

Emirates Bank International was the lead arranger for Sama Dubai's syndicated loan.

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