Nakheel properties intends to issue the much-delayed Dh4.8 billion sukuk (Islamic bonds) to creditors this week as part of a five-year restructuring plan to be launched on Wednesday, its chairman said in remarks published on Tuesday.
Ali Rashid Lootah said the company would launch the $13-billion (Dh48billion) restructuring programme after succeeding in securing approval by all creditors.
“Nakheel will launch the restructuring plan tomorrow (Wednesday)…it will then issue Dh4.8 billion sukuk within one or two days after the start of that plan,” Lootah told the Sharjah-based Arabic language daily 'Al Khaleej'.
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