Monday 15 February 2010
No love lost between Dubai World, bankers on deal talk
If Dubai was floating a trial balloon with a rumored debt offer proposing a scant 60 cents on the dollar, it may have to think again.
Stock markets tumbled and bankers turned glum following a report that Dubai World [DBWLD.UL] was mulling offering creditors two options, neither one reassuring to investors already spooked by Dubai's debt debacle.
According to the report, Dubai World will offer creditors either 60 percent repayment over seven years and a government guarantee, or full repayment with a debt for equity swap for property assets of Nakheel and no guarantee. [ID:nLDE61D03G]
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