Subscribe to RSS feedDubai World restructures loan portfolio
by
Roger Hailey
—
last modified
Jun 07, 2010 01:59 PM
DUBAI World has reached an “in principle” agreement with a group of creditor banks on terms to restructure US$14.4bn of loans.
The state-owned holding company will pay US$4.4bn in five years and the remaining US$10bn in eight years, Dubai World said in a statement.
Including Dubai Government debt, the total liabilities being restructured are US$23.5bn.
Dubai World, which owns the global...
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