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Dubai World may sell bonds to repay debt
Government-owned conglomerate Dubai World may...
October 21, 2009 3:13 by kippreport
Government-owned conglomerate Dubai World may be able to sell bonds to repay its loans, two bankers familiar with the group’s plans told Bloomberg. The company faces debts of $40 billion, including a $3.5 billion Islamic bond that has to be settled by the end of this year.
A part of the money needed to repay the Islamic bond of Dubai World’s real-estate unit Nakheel may be “raised from a bond sale and the rest from local lenders,” the bankers told the paper. They also said that some of Nakheel’s bondholders may agree to delay the bond’s maturity.