From WSJ: Hedge funds and other investors who bought into Dubai government-linked corporate debt at distressed prices are sitting on a mint after Dubai on Thursday said they will be fully repaid under a restructuring of Dubai World and its Nakheel unit.
Holders of the Nakheel Sukuks, or Islamic bonds, due in 2010 and 2011 will be paid in full and on time, a far rosier outcome than had been anticipated when Dubai rocked financial markets in November by saying it needed creditors to stay their claims....................................Full Article: Source |