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Wednesday, 17 February 2010
Limitless loan to roll over like other Dubai debt
Dubai World's [DBWLD.UL] lenders have rolled over billions in maturities since May 2009 and a pending $1.2 billion loan payment for its Limitless property unit will also get extended, people familiar with the matter said on Tuesday.
The Islamic loan to Limitless World is due next month. The maturity comes as Dubai World operates a de facto standstill with creditors pending a plan on how it will repay about $22 billion in debt.
"It's going to get rolled over, just like everything has been rolled over for months," said one person who spoke on condition of anonymity.
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