28 May 2012
A Dubai free zone says it has received sufficient support from lenders to repay $2 billion early as part of a broader refinancing effort.
Jebel Ali Free Zone said in a Nasdaq Dubai statement on Sunday that creditors representing about 89 per cent of the Dhs7.5 billion sukuk have approved the plan.
JAFZ was supposed to repay the debt this November. It sought agreement from lenders to repay it early so it could put a new refinancing plan in place.
© 7Days 2012
