Dubai borrowers seek to cash in on recovery | Reuters:
"Several of Dubai's government-related entities want to cash in on the improvement in sentiment towards Dubai Inc by asking existing creditors to give them better rates or by turning to the bond markets.
Companies such as Emaar Properties, Nakheeland Jebel Ali Free Zone Authority all want to renegotiate loan contracts that were drawn up at a time when there was substantial concern about the future of Dubai.
"A lot of these deals were signed when spreads were higher and market conditions were less favourable. Some Dubai GREs now have the option to issue bonds and sukuk [at better rates] instead," said Ahmad Alanani of the fixed income desk at boutique investment firm Exotix."
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