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Nakheel says to honor 2009 sukuk in next 14 days

Posted on 15 December 2009

From Indiatimes.com: Property developer Nakheel said on Monday it will meet its 2009 Islamic bond obligations in the next 14 days, averting default after the Abu Dhabi government stepped in with a bailout.

In a brief statement on the Nasdaq Dubai bourse, the developer of man-made islands said it would use the funds provided by the Dubai Financial Support Fund to pay the $4.1 billion Islamic bond which matured Dec 14……………………………….Full Article: Source

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