Middle East Economic Survey


No 18



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...