" /> " /> " />

Creditors reject Dubai World's 1% interest offer

17 April 2010

Dubai World's offer of 1% interest rate on two new tranches of debt were rejected by creditors for being too low, Reuters has reported, citing two sources close to the discussions. Dubai World has declined to comment on the matter. A counter offer was made at market rate, which the sources estimated to be around 5%. "All elements of the proposal are conditional on sufficient support," a spokeswoman for the Dubai government said.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications