Saturday 20 December 2014
 
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Lenders

Banks 'in loan restructure row with STC'

Lenders including Deutsche Bank, HSBC and China Development Bank are resisting calls by Saudi Telecom (STC) to restructure a loan that could potentially leave them with losses of up to $600 million, Reuters quoted banking and industry sources

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Thomas Cook close to $1.9bn lifeline

Thomas Cook is close to securing a 1.2 billion pounds ($1.90 billion) lifeline from its lenders to secure the future of the world's oldest travel company which issued three profit warnings last year, the Sunday Times reported.   

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Dubai Holding unit inks $2.5bn debt deal

Dubai Holding today announced that Dubai International Capital (DIC), its private equity investment arm, has reached a final agreement with its lenders regarding the restructuring of approximately $2.5 billion of liabilities. Under the ter

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Drydocks wins lenders' backing for debt deal

Dubai's ship building unit Drydocks World has secured the necessary level of support from its syndicated lenders to implement the restructuring of its $2.2 billion debt, the company said in a statement on Saturday. The Dubai World unit

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Morocco eyes first Islamic bank launch in 2013

Foreign Islamic banks will be allowed to take up to 49 percent of Morocco's first fully-fledged Islamic bank in 2013, as the country aims to become a regional financial hub, a minister said. The government will submit to parliament a draft

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Greece pushes for key debt deal

Greece's government made another push on Saturday to hammer out a deal with foreign lenders on a 130 billion euro bailout before turning to the trickier task of convincing wary political leaders to back the additional painful reforms involved.

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Nakheel offers lenders repayment after 4.5 years

Dubai-based developer Nakheel, restructuring $10.9 billion in debt, has offered lenders repayment after four and a half years at a rate of 4 percent on a portion of its debt, sources familiar with the deal said. The terms of the restructur

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Lenders question Dubai's shortfall guarantees

Dubai's pledge to cover gaps in Dubai World's debt repayment plan has become a sticking point for lenders, some of whom want state guarantees to fall under British - not local - law, bankers close to the matter said. The issue aros

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Lenders in Dubai for crucial debt talks

Over-stretched Dubai plays host to some of its bank creditors on Thursday, eight months after the emirate's flagship state conglomerate Dubai World hit the financial buffers. A core group of banks has already agreed broad terms for a r

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Nakheel outlines debt plan to bank lenders

Debt-laden Dubai property developer Nakheel outlined detailed terms of its plans to repay bank lenders on Wednesday, asking them to respond to the proposal by August 31. The developer, which has overstretched itself building islands in the

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