Thursday, Jul 22, 2010
DUBAI (Zawya Dow Jones)--A banker involved in talks with Dubai World said Thursday he isn't happy with the terms of the government conglomerate's debt restructuring proposal.
"We are not happy. The pricing is low," Suresh Vaidyanathan, head of operations at Bahrain-based Alubaf Arab International Bank, told reporters on leaving a Dubai World meeting with its creditors.
Dubai World earlier Thursday said the meeting to present details of its proposed $23.5 billion debt restructuring to creditors was an "informational session" and no resolution was sought. It also said it expects to complete the debt restructuring over the coming months.
-By Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1692; Tahani.Karrar@dowjones.com
Copyright (c) 2010 Dow Jones & Company, Inc.
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(END) Dow Jones Newswires
22-07-10 1046GMT
