Monday 22 March 2010
What might Nakheel 2010 bondholders be offered?
The clock is ticking on a proposal to restructure Dubai developer Nakheel's $980 million dirham-denominated Islamic bond maturing May 13 as an indicator of how Dubai will deal with its much larger debts.
FINANCIALS
Nakheel [NAKHD.UL] is one of two property arms of state-owned conglomerate Dubai World [DBWLD.UL], which stunned global markets in November when it asked for a delay in repaying $26 billion in debt. IMF estimates suggest that 80 percent of Nakheel's bondholders are local UAE banks.
Sources told Reuters that repayment is unlikely but all options remain on the table.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment