Drydocks World LLC, the Middle East’s biggest ship repair company, said it’s proposing to repay loans over five years as part of a plan to restructure $2.2 billion of debt.
Drydocks World presented the terms of its proposal and the steps required to implement it along with the associated timeline to all its syndicated lenders in Dubai today. The company said it’s confident it can get support for the plan.
“It is a restructuring of the debt for five years,” Chairman Khamis Juma Buamim said in Dubai today. “We continue to pay interest on the loans.”
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