Limitless Said to Get Sixth Extension on $1.2 Billion Loan - Bloomberg

Limitless LLC received a sixth extension on a $1.2 billion loan as the real-estate developer controlled by state-owned Dubai World works on a restructuring plan, two bankers familiar with the plan said.

The extension is conditional on talks between Limitless and creditors making sufficient progress, with Jan. 31 set as a deadline for a deal to be reached, one of the bankers said, declining to be identified because the information is private. The last extension on the syndicated loan expired on Sept. 30.

“Private discussions continue with our lenders,” Limitless said in an e-mailed response to questions. The Islamic loan, originally maturing in March last year, got two three- month, one six-month, one four-month and one two-month extensions.

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