| From Bloomberg: Nakheel PJSC may pay about 3.6 billion dirhams ($980 million) of Islamic bonds due May 13 even if its parent Dubai World doesn’t reach a formal debt-restructuring agreement, a government spokeswoman said.
A formal agreement with creditors isn’t needed to repay the bonds, said the spokeswoman for Dubai’s Department of Finance yesterday. Dubai World in March said Nakheel’s local-currency and dollar-denominated sukuk will be paid on time “assuming sufficient support” for the restructuring plan from banks.............................................Full Article: Source
|