Dubai World may offer new debt at reduced rates

16 March 2010

Dubai World may offer new debt to creditors in a plan to restructure $26bn in debt, The National has reported, citing bankers familiar with the matter. None of the proposed new debt involves an immediate 'haircut', where creditors receive less money than they're owed, the Abu Dhabi-based newspaper said. Under the proposals, Dubai World would offer different repayment terms and interest rates to creditors, it said.

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