Drydocks World (DDW), a unit of debt-ridden Dubai World [DBWLD.UL], expects to complete the restructuring of a $2.2 billion loan by April 30, its chairman said on Tuesday.
"We are in the final stages of restructuring for the Dubai Drydocks World. The headline terms have been agreed upon," Khamis Juma Buamin told reporters on the sidelines of an event in Dubai.
Dubai Drydocks signed a $2.2 billion loan involving 15 lenders in October 2008, according to Thomson Reuters LPC. The shipbuilding arm of Dubai World has a $1.7 billion loan maturing in November 2011.
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