Dubai World to meet creditors in July

12 July 2010

Dubai World has invited creditors to a meeting on July 22 to offer details on its multi-billion dollar debt restructuring, the first session to include all lenders since December 2009, Reuters has reported, citing sources from the conglomerate's creditors. The meeting is more than three weeks behind schedule after creditors were initially told to expect it in June. The May deal allows banks to get their money back in two tranches with five and eight-year maturities.

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