Dubai World's property arm Nakheel has delayed offering an Islamic bond, or sukuk, until July as part of its $10.9 billion debt restructuring plan, two sources familiar with the matter said.
The developer, which overstretched itself with projects such as islands in the shape of palm trees, has said it expected its debt restructuring process, including the sukuk issue, to be completed by the end of the first half of 2011.
"The end of June was always an ambitious goal," one of the sources told Reuters, speaking on the condition of anonymity.
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