13 April 2011
DUBAI: Dubai Group is nearing a debt deal with its lenders and an agreement may be signed within the second quarter, the head of one of its creditor banks said. Financial services firm Dubai Group, a unit of Dubai Holding, set up a bank committee for debt restructuring talks last year.
It has missed at least two scheduled payments on separate loans. The firm reached a $25 billion restructuring agreement with its financial creditors.
DUBAI: Dubai Group is nearing a debt deal with its lenders and an agreement may be signed within the second quarter, the head of one of its creditor banks said. Financial services firm Dubai Group, a unit of Dubai Holding, set up a bank committee for debt restructuring talks last year.
It has missed at least two scheduled payments on separate loans. The firm reached a $25 billion restructuring agreement with its financial creditors.
© The Saudi Gazette 2011
