Middle East Economic Survey

VOL. LIII

No 18

03-May-2010

UAE

Nakheel Signs Agreements With Trade Creditors

Dubai Worlds real estate subsidiary Nakheel has begun to sign agreements with its trade creditors regarding the restructuring of its parent companys $25bn debt restructuring proposal, it said on 26 April. Nakheels trade creditors are being offered a 100% recovery of their agreed claims, with a 40% cash payment and 60% in the form of a publicly tradable security with a 10% annual return, the...