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Nakheel proposes 7 yrs to repay Islamic loan-source

Posted on 27 July 2010

From Reuters: Nakheel, the property developer behind Dubai’s palm-shaped islands, has proposed repaying its bank debt after five years and one outstanding $1.85 billion syndicated Islamic loan after seven, a source close to the company said.
Bankers have until the end of August to respond to undisclosed terms of Nakheel’s multi-billion dollar restructuring plan, including the rates of interest and repayment schedules for syndicated and bilateral loans……………………………………….Full Article: Source

 
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