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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Dubai offers $9.5 bln for debt deal with no haircuts

Posted on 31 March 2010

From Montrealgazette.com: Dubai will recapitalize its Dubai World conglomerate and repay property unit Nakheel’s bonds in full, with $9.5 billion of aid for a debt deal promising creditors all their money back in up to eight years.

The price of bonds issued by Nakheel, which built a map of the world archipelago, soared and the cost of insuring Dubai debt against default plummeted, while the Dubai main stock index rose 4.73 percent to an 11-week high………………………………..Full Article: Source

 
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