Limitless LLC received a fourth extension on a $1.2 billion loan as the real-estate developer controlled by state-owned Dubai World works on a restructuring plan, two bankers familiar with the plan said.
The Islamic syndicated loan has been extended until July 31 from March 31 without a change in the terms, the bankers said, declining to be identified because the information is private. The time will allow Limitless to complete a debt restructuring agreement with creditor banks, one of the bankers said.
“Private discussions are continuing with our lenders,” Limitless said in an e-mailed response to questions.
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