Saturday 27 March 2010
Fears rise over Dubai World debt plan
Some of Dubai World’s bank creditors are concerned about the company’s proposal to restructure its debts a day after markets broadly welcomed plans to pay back loans in up to eight years.
People close to the seven banks negotiating with Dubai World say concerns centre on the lack of clarity on payment of interest to Dubai World lenders.
The banks, which sit on the co-ordinating committee and include HSBC, Standard Chartered, RBS and Lloyds, are the biggest lenders to Dubai World
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