Limitless gets extension on $1.2bn loan

07 April 2011

Limitless, the developer controlled by Dubai World, has been granted a fourth extension on a $1.2bn loan as the real-estate firm works on a restructuring plan, Bloomberg has reported, citing two bankers familiar with the plan. The loan, originally maturing in March last year, got two three-month and one six-month extensions until March this year. The Islamic syndicated loan has been extended until July 31 from March 31 without a change in the terms, allowing Limitless to complete a debt restructuring agreement with creditor banks, the bankers 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