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Sovereign Wealth Funds Briefing - Categorized | Financials

Debt-saddled Dubai World gets $9.5bln state bailout

Posted on 26 March 2010

From Independent: Dubai’s rulers yesterday bailed out Dubai World, the debt-ridden state-owned conglomerate which caused global investor panic last November when it asked for more time to repay $4bn (£3bn) worth of bonds.

The $9.5bn package was welcomed by the market as the Dubai bond prices surged. Traded debt in Nakheel, Dubai World’s property arm which initially sparked the panic, jumped by 45 per cent after investors were promised that lenders would be fully repaid………………………………Full Article: Source

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