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Nakheel says profit payment for $1.03bln Sukuk on time

Posted on 13 December 2011

Troubled Dubai developer Nakheel said on Monday that the profit payment of 10 percent on its $1.03 billion sukuk issued earlier this year would be made on time. The Islamic bond, or sukuk, is part of Nakheel’s $16 billion debt restructuring deal which repays trade creditors 40 percent in cash and 60 percent via the bond.
Nakheel said all arrangements have been made to ensure that Deutsche Bank, the arranger of the sukuk, can make the payments. The payment in due on Dec 15………………………………………..Full Article: Source

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