Dubai commits 9.5 billion dollars to Dubai World
Dubai, March 25: Debt-laden Dubai World said on Thursday it has proposed to repay its creditors in full through the issuance of two tranches of new debt maturing in five and eight years.
Creditors, apart from the government’s financial support fund which has pumped cash into the troubled group, “will receive 100 percent principal repayment through the issuance of two tranches of new debt with five and eight years maturities,” the company said in a statement.