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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Dubai lender Amlak said in talks to restructure $2 bln debt

Posted on 15 January 2013

Amlak Finance PJSC, the Islamic mortgage company part-owned by Emaar Properties PJSC (EMAAR), is in talks with creditors to restructure about $2 billion of bank and government debt, two bankers familiar with the matter said.
The company is negotiating with a committee of five banks representing creditors, said the people, declining to be identified because the matter is private. PricewaterhouseCoopers LLP is advising Amlak on the talks, according to the people………………………………………..Full Article: Source

 
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