Dubai World creditors reject 1% interest -sources

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Dubai World [DBWLD.UL] offered creditors a 1 percent interest rate on two new tranches of debt as part of its restructuring plan, but they rejected it as too low, two sources close to the discussions told Reuters.

A spokesman for Dubai World declined to comment.

Dubai put the restructuring plan to creditors last month, having asked for a delay in repayment of the state-owned conglomerate's debt in November, and said the deal was conditional upon agreement with the creditors.