Dubai's Amlak Finance said on Thursday that a proposal to restructure its debt had been approved by all its creditors, and that shares in the mortgage lender would therefore resume trading on the emirate's stock market next year.
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, said it will repay the entire amount of Dh5.6 million ($1.5 billion) it had received in emergency funds from the UAE government during the global financial crisis.
Uncertainty over the global economy is increasingly prompting Middle Eastern companies to use financial instruments which offset the risk of non-payment by foreign trade partners, HSBC's regional commercial banking head sai
UAE-based natural gas firm Dana Gas will not repay a $920 million convertible Islamic bond when it matures on Wednesday and has reached a standstill agreement with bondholders, three sources said.
Sharjah-based Dana, hit by paymen
Emirates airline, Dubai's flagship carrier, repaid in full a $550 million Islamic bond, or sukuk, at maturity on Monday, the company said in a statement.
"The repayment of our first ever sukuk bond is part of Emirates' varied financing str
Dubai's Emirates, the fast-expanding Gulf airline, will repay in full a $550 million Islamic bond maturing later in June, a senior executive told local newspaper Gulf News.
The sukuk that matures on June 16, will not be refinanced, Emi
Kuwait's Global Investment House secured approval from bondholders to delay the repayment of bonds worth 95 million dinars ($338.9 million) to December from June, a regulatory filing from the company said.
The assent was granted at a meeti
The investment arm of Dubai's International Financial Centre is in talks with banks to raise a loan worth as much as $1 billion to help it meet the June maturity of a $1.25 billion Islamic bond, three sources said on Wednesday.
Shipbuilder Drydocks World, a unit of Dubai World, has proposed repaying creditors in five years and is seeking more working capital as it tries to restructure a $2.2 billion loan facility, ending lengthy and complex debt talks.
Kuwait's Global Investment House is to ask bondholders if it can delay repayment of a 45 million dinar ($163 million) bond to June 2012 from April 2012, the company said in a statement on Monday.
A meeting to approve the firm's req