Dubai World is seeking to fast-track agreement on a US$23.5 billion (Dh86.31bn) debt restructuring by offering sweeter terms to creditors.
A source familiar with the talks confirmed an earlier report that Dubai World, one of the emirate’s three main government holding companies, would offer improved terms to more than 90 creditors if they agreed by tomorrow – though the period for acceptance could be extended.
The Arabic-language daily Al Khaleej reported that Dubai World would add 0.2 percentage points to the yield of the restructured loans."
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