Loading...
See More

State rescue for indebted Nakheel

Dec 30 2010 11:25 Sapa-AP

Related Articles

Simon unveils £3bn Capital war chest

Decillion in reverse listing talks

Pinnacle arrests losses

Hyprop secures R9bn acquisition

CSC welcomes ultimatum for Simon

Office rentals continue to manage growth

 

Dubai - The Dubai property developer behind the emirate's manmade islands says it will use government financial support funds to repay more than $800m in debt coming due next month.

Nakheel said in a regulatory filing to the Nasdaq Dubai stock exchange that the Dubai Financial Support Fund has made the cash available to repay the sukuk, a type of Islamic bond.

It matures on January 16 and is the last sukuk Nakheel has listed on the exchange.

Nakheel says investors will be paid a total of $871.6m.

The state-run firm is still in talks to restructure at least $10.5bn in debt.

property market  |  property developers
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Hottie of the day: Nicole Meyer!

Nicole is the cover girl for the 2014 edition of SA Swimsuit! Check out some smoking hot pics of here here.

 
 

Men24.com

11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!
This is how the Top Gear presenters spend their £55 million!
Thirty and still single? There’s hope!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...