Dubai World expected to repay debt ahead of schedule | Dubai World expected to repay debt ahead of schedule -
Dubai-Downtown

Dubai World expected to repay debt ahead of schedule

: Wednesday, April 02 - 2014 @ 10:04

Mohammad al-Shaibani, chief executive of sovereign wealth fund Investment Corp of Dubai has said Dubai World, the conglomerate at the centre of the emirate’s debt crisis, has the means to make its first big repayment on time in 2015 and should pay off more debt ahead of schedule, Reuters has reported. Al-Shaibani, who is also a key figure in negotiating the emirate’s debt restructurings in recent years, said Dubai World would be able to meet a $4.4bn loan maturity in May 2015 and to make some other repayments early. “We have the means to pay off the first tranche of debt maturing in 2015 given the group’s precise and successful asset disposable plan,” Shaibani said.

Today's Top Stories

Posted by

Wednesday, April 2- 2014 @ 10:04 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services







Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically





JobsVIEW ALL

Search for jobs

Latest Jobs