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The Calculus Behind Dubai’s Nakheel Repayment
The Dubai government’s decision to pay the equivalent of $1.7 billion to redeem in full the sukuk instruments issued by crisis-hit property developer Nakheel was a painful one. But people familiar with the decision-making said the alternative would have been much worse, a possible showdown with hedge funds and distressed debt investors that could leave Nakheel with unfinished property projects and knocking confidence in the wider economy.
Nakheel to pay creditors $8.2b in June
Dubai: Nakheel, the property arm of government-owned conglomerate Dubai World, plans to pay its bank and trade creditors $8.2 billion (Dh30.1 billion) in June, Ittihad reported yesterday.
Dubai eyes $1.2bn Limitless loan rollover – sources
The state-owned firm, which rattled global markets when it requested a delay on $26 billion of debt linked to its main property units Nakheel and Limitless World last November, has been negotiating with an unofficial bank coordinating committee.
Dubai World gets $9.5bn government backing
The Dubai government has announced it will provide $9.5bn (£6.4bn) in funding to help its Dubai World investment vehicle to restructure its debt.
Dubai World, Nakheel to get government funding
Dubai’s government said Thursday it will commit $9.5 billion in new funding to help conglomerate Dubai World restructure its debt.
