Drydocks World, a unit of Dubai World, expects to complete its long-delayed debt restructuring by the end of March 2012 and hopes joint ventures in Asia will provide it with much needed finance, its chairman said on Tuesday.
The shipping firm is looking to extend debt repayments for between five and eight years, Khamis Juma Buamim said. That timeframe would be similar to the restructuring deal reached by parent Dubai World with its creditors last year.
"We are not asking for government support. I'm not saying we don't need it. There are always other avenues to get support," Buamim told reporters on the sidelines of an event in Dubai.
The shipping firm is looking to extend debt repayments for between five and eight years, Khamis Juma Buamim said. That timeframe would be similar to the restructuring deal reached by parent Dubai World with its creditors last year.
"We are not asking for government support. I'm not saying we don't need it. There are always other avenues to get support," Buamim told reporters on the sidelines of an event in Dubai.
No comments:
Post a Comment