UDC renews $210m credit facility deal

August 26, 2014 - 12:26:32 pm

DOHA: Qatar's real estate developer, the United Development Company, has announced the renewal of a US$ 210 Million credit facility agreement with a group of banks through its agent the Commercial Bank of Qatar, and authorising its Managing Director to take the necessary procedure for that purpose.

The agreement has been renewed for another three years, the company said, according to a Qatar Stock Exchange filling.

The decision follows the recommendations of UDC's finance department to renew the credit facility which expired August 21. (QNA)