CORRECTED-Creditor support grows for Dubai's GGICO $572 mln debt deal:
"Dubai-based Gulf General Investment Company (GGICO) has agreement from nearly half of its creditors on a 2.1 billion dirham ($572 million) debt restructuring, sources close to the matter told Reuters. The deal is set to achieve the target of 75 percent creditor support by the end of the month, the sources said, adding that the terms push back the bulk of the company’s debt repayment to 2024. Some of the debt will be repaid immediately, partly from proceeds of a sale of non-core assets from real estate, retail, manufacturing and financial services holdings, one of the sources said."
'via Blog this'
No comments:
Post a Comment