Dubai eyes refinancing of $10bn in state debt - FT.com

Dubai has for the first time raised the prospect of restructuring some bonds next year as the emirate and its state-related companies face a wall of $10bn in debt repayments.

The emirate is also pursuing other options, including raising $2bn in funds from liquid local banks, as it helps government-related entities meet their obligations, including three bonds totalling $3.8bn that mature during the course of next year.

“We are working hard to meet all our liabilities but times are different,” a senior government official said. “We are more confident we can negotiate a commercial deal with bondholders.”

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