Dubai property developer Nakheel plans to issue the second tranche of its Dh4.8 billion ($1.31 billion) Islamic bond (sukuk), to trade creditors by the end of April, the company's chairman said on Wednesday.
The first portion of
Greece's prime minister scrambled on Sunday to convince lenders and politicians to sign off on a 130 billion euro ($171 billion) rescue, after his finance minister said just hours remained to clinch a deal to avoid a messy default.
Greece's private creditors have pleaded with European officials who rejected their bond swap offer to hammer together a deal before Athens tumbles into a chaotic default.
Athens' hopes for a swift deal with lenders were evaporating after e
Dubai's special tribunal, set up to hear cases against indebted state firm Dubai World, could throw efforts to restructure $26 billion in debt into disarray if just one creditor files a claim, legal experts say.
Dubai World is lobbying ban