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Nakheel pays $2 bln to its trade creditors

Posted on 09 December 2011

Nakheel, the developer of Dubai’s palm-shaped islands, said on Thursday it has made payments to the tune of Dh7.3 billion ($2 billion) to its trade creditors.
The Dubai-based company had paid Dh5 billion to trade creditors in June, followed by Dh4.8 billion Islamic bonds to its contractors and suppliers in August. Nakheel will issue another Dh1 billion of sukuk before the end of this year as part of its Dh59 billion restructuring deal with trade creditors………………………………………..Full Article: Source

 
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