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Real estate financier Amlak Finance announced that it has successfully renegotiated certain parts of its restructuring terms with its financiers.
In 2014, Amlak Finance completed its restructuring paving the way towards the companys shares being readmitted for trading on the Dubai Financial Markets (DFM) and the resumption of normal business activity.
Amlak approached its financiers to waive a number of restrictive covenants in September 2016, which included adjustments to certain restrictions to allow for the companys mortgage book to be maintained at higher anticipated levels, funds to be raised under certain pre-agreed parameters, and restrict…
Read the full article at: http://www.constructionweekonline.com/article-42505-amlak-finance-renegotiates-restructuring-terms/