Dubai's Limitless to pledge revenues to get $1.2 billion debt deal: sources | Reuters

Dubai's Limitless to pledge revenues to get $1.2 billion debt deal: sources | Reuters:



"Dubai's Limitless will pledge its future revenues to service debt repayments as it attempts a second restructuring of a $1.2 billion Islamic loan which banking sources said should be completed ahead of a December deadline.



The state-owned property firm is on track to restructure the debt by the end of the year, when a payment worth a third of the total comes due, two sources familiar with the matter said on Sunday.



Despite a recovery in the local economy which has helped many of the other restructured firms meet their new repayment schedules, Limitless is still struggling to turn its fortunes around."



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