Dubai might fully repay bank debts of Dubai World
Dubai might opt to fully repay all of the bank debt…
December 20, 2009 5:13 by kippreport
Dubai might opt to fully repay all of the bank debt owed by its conglomerate Dubai World, the emirate’s officials told investors in London, reports The National. “They made clear there were a number of options the government of Dubai saw as feasible and desirable for Dubai World and repayment in full was one of them,” a person present during the talks told the paper.
“All options remain open and we believe a consensual process with the creditor banks remains the best way forward,” a Dubai World spokesman said.
Dubai World announced last month that it would be restructuring $26 billion of debt, but repaid Nakheel’s $4.1 billion Islamic bond earlier this month.