Nakheel PJSC, the Dubai developer that was rescued by the government in 2009 after a property crash, said it may refinance its Islamic bonds this year after reporting a 57 percent increase in annual profit.
The company, which built palm-shaped islands off Dubai’s coast, has received offers from local and foreign banks to refinance its sukuk, on which it pays annual interest of 10 percent, Chairman Ali Rashid Lootah said at a press conference in Dubai today. “Refinancing will not be an issue,” he said………………………………………..Full Article: Source