Developer Nakheel, restructuring $10.9bn in debt, has offered lenders repayment after four and a half years at a rate of 4 percent on part of its debt in a deal that favours banks, sources said.

The terms of the restructuring, covering mainly bilateral loans and one $1.85bn syndicated Islamic loan due 2012, vary from the all-lender meeting in July which indicated repayment over five to seven years………………………………………Full Article: Source