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Sovereign Wealth Funds Briefing - Categorized | Financials

Dubai World, lenders agree on a deal to restructure debt

Posted on 21 May 2010

From Indiatimes.com: Dubai World, whose default fears had rocked global markets, on Thursday said it reached agreement “in principle” with most of its bank lenders to restructure some $23.5 billion in debt.

The agreement still needs the backing of other lenders but appears to give the heavily-indebted Dubai some breathing space in dealing with the obligations of its state firms……………………………………..Full Article: Source


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