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.

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