United Arab Emirates

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Dubai's Amlak To Hold Talks On Restructuring Plan On September 21

Dubai mortgage lender Amlak Finance said on Wednesday that it would hold a shareholder meeting on September 21 to discuss its restructuring plan and a proposed issue of equity-linked bonds, Arabian Business reported. Creditors of the company, whose share ...

Daily Headline - global.abi.org - 09/03/2014 - 22:18 - 0 comments

Abu Dhabi's Al Jaber Group Signs Debt Restructuring

Abu Dhabi-based conglomerate Al Jaber Group has signed a debt restructuring deal with its bank creditors, the conglomerate said on Monday, addressing one of the United Arab Emirates' last big debt hangovers from the global financial crisis, Reuters ...

Daily Headline - global.abi.org - 06/16/2014 - 22:29 - 0 comments

ANSA/Alitalia Set For Painful Restructuring

Italian carrier Alitalia is in for some "painful and arduous" restructuring but should see a deal with Etihad Airways in a matter of weeks, the airline's chief executive officer said Monday, Gazzetta del Sud reported. Gabriele Del Torc ...

Daily Headline - global.abi.org - 06/09/2014 - 21:18 - 0 comments

Etihad Details Criteria For Equity Investment In Alitalia

The UAE-based Etihad Airways has said that it is pressing ahead with a plan for an equity investment in the struggling Italian carrier Alitalia, The Economic Times reported. Etihad Airways, which has been in negotiations for almost a year, said it wi ...

Daily Headline - global.abi.org - 06/02/2014 - 21:42 - 0 comments

Dubai Agrees Refinancing Deal

Dubai has received a financial boost thanks to an agreement to refinance at preferential rates $20bn of bonds and loans owed to the central bank of the United Arab Emirates and its capital, Abu Dhabi, the Financial Times reported. The Gulf’s commerci ...

Daily Headline - global.abi.org - 03/17/2014 - 00:02 - 0 comments

Bank of America Merrill Lynch Red Flags Dubai’s Debt (Again)

Dubai’s global financial crisis-induced slump, followed by a less dramatic, but equally sharp, recovery make for a compelling story. The endless flow of positive news in the desert emirate culminated late last year in Dubai winning the hosting rights fo ...

Daily Headline - global.abi.org - 03/11/2014 - 23:06 - 0 comments

Even as Restructurings Progress, Dubai’s Debt Demons Linger

State-owned investment firm Dubai Group announced its long-awaited $10 billion debt restructuring deal with creditors late on Thursday. While all bankers and advisors who took part in the often acrimonious negotiations breathed a sigh of relief, most of ...

Daily Headline - global.abi.org - 01/26/2014 - 22:31 - 0 comments

Dubai Group Completes $6 Billion Debt Restructuring

Dubai Group LLC, an investment company owned by the emirate’s ruler, said it reached a final agreement with lenders on $6 billion in debt restructuring after three years of talks, Bloomberg News reported. Lenders agreed to extend the maturity for secured ...

Daily Headline - global.abi.org - 01/23/2014 - 22:04 - 0 comments

Dubai Group Signs $10 Billion Debt Restructuring Deal

Dubai Group has signed a $10 billion debt restructuring deal, two sources with knowledge of the matter told Reuters, marking the end of a perilous period which saw the emirate risk collapse under a mountain of debt obligations, Reuters reported. The unit ...

Daily Headline - global.abi.org - 01/16/2014 - 23:25 - 0 comments

Dubai’s Crisis-Hit Nakheel Sees Debt-Free Future

Nakheel, the Dubai government-owned developer that restructured $16 billion of debt three years ago after being hit by a sharp drop in local real estate prices, is now aiming to pay back much of those borrowings early and eventually become debt-free as p ...

Daily Headline - global.abi.org - 01/05/2014 - 23:19 - 0 comments

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