From Kippreport.com: Dubai developer Nakheel said on Thursday it repaid 3.4 billion dirhams ($925.9 million) it owes to trade creditors, as part of its debt repayment plan. “Nakheel has approximately 85 percent (by value) of acceptances and is working closely with the rest of our trade creditors to achieve its 95 percent acceptance of all payables by the end of the year,” it said.
Under Nakheel’s restructuring plan, trade creditors have been offered 40 percent of what they are owed in cash and the rest through an Islamic bond or sukuk……………………………………….Full Article: Source