| From Bloomberg: Dubai World’s creditor banks may have lost as much as 56 percent of the value of the loans they made to the state-owned holding company after it altered the terms on $14.4 billion of debt, and lenders may have to aside 10 percent of these loans to cover losses, analysts said.
Dubai World’s loans have a fair value of 44 cents to 46 cents to the dollar after the restructuring proposal, JPMorgan Chase & Co. said in a research report e-mailed today. The company’s $4.4 billion of Group A debt has a fair value of 58 cents to 61 cents, and $10 billion of Group B debt a fair value of 36 cents to 41 cents, it said................................................Full Article: Source
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