15.12.2009 - Nakheel bonds double, leaving ‘bitter aftertaste’
From Bloomberg: Nakheel PJSC bond prices doubled after Abu Dhabi provided $10 billion to help parent company Dubai World meet obligations and enable its property unit to avoid default on $3.52 billion due today. “Remarkable is the only way to describe the announcements,” Timothy Ash, head of Europe, Middle East and Africa research at Royal Bank of Scotland Group Plc in London, said in a research note. “It will no doubt leave a bitter aftertaste for many.”....................................Full Article: Source
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