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Nakheel in talks with Dubai World about maturing debt
Dubai-based developer Nakheel has met with its parent company, Dubai World about a $3.52 billion Islamic bond...
November 11, 2009 1:57 by Dana El Baltaji
Dubai-based developer Nakheel has met with its parent company, Dubai World about a $3.52 billion Islamic bond, or sukuk, that matures on December 14, Bloomberg reports.
“Nakheel can confirm it is in discussions with its parent regarding the forthcoming December 2009 sukuk maturity,” the company said in a statement to Nasdaq Dubai on Wednesday. “Once these discussions are complete we will further advise the market.”
It is unclear if Nakheel plans to repay or restructure the debt.