Dubai's Limitless Seeks to Delay Debt Repayments for Third Time - Bloomberg:
Limitless LLC asked banks to delay debt repayments for a third time as an going slump in property prices weighs on the Dubai-based developer, people with knowledge of the plan said.
The company is seeking to reschedule about $600 million-worth of loans and is also asking banks for a new loan of 475 million dirhams ($129 million) to help complete existing projects, said the people, asking not to be identified because the information is private. The developer hasn’t proposed a formal restructuring plan to banks yet, they said.
A Limitless spokeswoman declined to comment.
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