Dubai International Capital LLC, an investment company owned by the emirate’s ruler, sought a two- month extension on a $1.25 billion loan maturing on Nov. 30, two people with knowledge of the discussions said.
The loan continues to pay the same interest as earlier and the extension will help Dubai International’s 26 creditor banks agree on new terms for $2.6 billion of debt that the company is seeking to alter, the people said, declining to be identified because the information is private. The loan, which was due to mature in June, was extended to Sept. 30 and then to Nov. 30.
A company spokeswoman could not immediately comment when contacted by Bloomberg News today.
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