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Thomas Cook close to $1.9bn lifelineThomas 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. More… |
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Dubai Holding unit inks $2.5bn debt dealDubai 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 More… |
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Drydocks wins lenders' backing for debt dealDubai'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 More… |
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Morocco eyes first Islamic bank launch in 2013Foreign 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 More… |
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Greece pushes for key debt dealGreece'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. More… |
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Nakheel offers lenders repayment after 4.5 yearsDubai-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 More… |
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Lenders question Dubai's shortfall guaranteesDubai'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 More… |
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Lenders in Dubai for crucial debt talksOver-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 More… |
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Nakheel outlines debt plan to bank lendersDebt-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 More… |
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Gulf corporate issuers 'face tough times'Corporate issuers in the Gulf region will continue to face tough credit conditions until 2012, ratings agency Moody's said in a report on Monday. Moody's, which described the year as a 'wall of maturity', estim More… |
