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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.
Limitless loan to roll over like other Dubai debt
Dubai World’s lenders have rolled over billions in maturities since May 2009 and a pending $1.2 billion loan payment for its Limitless property unit will also get extended, people familiar with the matter said on Tuesday.
Dubai World Limitless makes payment on $1.2bn loan – banker
Bankers said that Dubai World’s property unit Limitless on Thursday paid creditors interest for a $1.2bn loan due at the end of this month, according to a Zawya Dow Jones.
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.
