Dubai World to ask for loan rollover, bankers say

Dubai World will ask banks to roll over loans for years when it presents a restructuring proposal to creditors this month in a bid to renegotiate terms on about $26bn of debt, Bloomberg has reported, citing three bankers familiar with the plan. Banks may be able to avoid a so-called haircut if they are prepared to wait for years to be repaid, and they also may be provided a guarantee by the Dubai government, the sources told the news service.