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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to rollover debt for a year, a boost for the nation as it awaits a final approval for its new $7 billion loan program with the International Monetary Fund, Bloomberg News reported. The amount of rollovers will be the same as last year, Pakistan’s Finance Minister Muhammad Aurangzeb told reporters in Islamabad after a parliamentary committee meeting. Pakistan has $12 billion in bilateral loans that have been extended for the past few years.
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Dubai Holding refinanced a 30 billion dirham ($8.2 billion) loan to replace older facilities at the two state-backed developers it absorbed last month, better positioning itself to capitalize on a boom in the city’s real estate market, Bloomberg News reported. The funding will refinance debt held by the firms — Nakheel and Meydan — according to people familiar with the matter, who asked not to be identified because the information is private. The deal helped secure more favorable terms for the debt, with Emirates NBD Bank PJSC and Mashreqbank PSC underwriting the loan, they said.
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