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...
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