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Nakheel confirms payment on $750m sukuk

Posted on 13 January 2010

From Business24-7.ae: Nakheel is due to make a payment on a $750 million (Dh2.75 billion) Islamic bond next week just as its parent company Dubai World looks to submit a formal standstill request on $22 billion of debt.

Nakheel has a $10.3m distribution payment due on January 19 for trust certificates maturing in 2011, it said yesterday in a filing on the Nasdaq Dubai. Dubai World is expected to soon make a formal standstill request to creditors for its debt while it devises a restructuring plan………………………………….Full Article: Source

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