DIC agrees $2.4bn debt restructuring
Dubai, November 24, 2011
Dubai International Capital (DIC), a unit of Dubai Holding, the conglomerate owned by the ruler, has agreed the terms for a $2.4 billion debt restructuring with its creditors, two sources familiar with the situation said on Thursday.
'I can confirm that the DIC restructuring has been agreed,' a spokeswoman for DIC said.
DIC's assets include UK hotel chain Travelodge, Doncasters and European aluminium maker Almatis Holdings BV. - Reuters
More Finance & Capital Market Stories
- NBK group CEO to step down
- SABB gets Fitch ratings boost
- Saudi SABB prices $400m sukuk issue
- Shuaa Capital gets Moody's ratings upgrade
- QInvest ‘advised on $3.5bn sukuk in 2013’
- Al Hilal Bank wins top Islamic finance award
- Barwa Bank wins top Islamic banking awards
- ‘BPO offers big benefits for Saudi economy’
- Emaar approves bonds-to-shares conversion
- Higher oil production to boost Mena growth