Dubai-based real estate major Nakheel has received the approval of almost 99 per cent of its lenders for a debt restructuring programme, the company has said in an emailed statement, adding that it expects to secure confirmation from the remaining banks within days.
“The company excepts to secure confirmation from the remaining banks over the next few days, following which Nakheel will proceed to the completion phase of the restructuring, which will include a subsequent issuance of a sukuk to the company’s trade creditors,” the statement added………………………………………Full Article: Source