05.09.2012 - Dubai's Limitless to sign $1.2 bln debt deal in September
Limitless, the indebted property arm of Dubai World, is aiming to conclude its $1.2 billion debt deal with creditors by the end of September, the company said on Tuesday. The state-owned firm, which was hard hit by the global financial crisis, has rolled over the Islamic debt facility, owed to a syndicate of banks, several times. The loan was originally due to mature in March 2010. "Discussions continue and we aim to conclude the deal by the end of September," Limitless said in an emailed statement. The company was close to reaching a debt deal with creditors, sources told Reuters in July.............................................Full Article: Source
Print