advertisment
 Home » Sukuk.net wire  

Sukuk.me - Nakheel to issue sukuk on Aug 25

10/08/2011 02:25:00 PM GMT   Comments ()     Add a comment   Print     E-mail to friend
Dubai based Nakheel Properties is headed by Dubai World holdings

 [Emirates 24/7] Dubai-based Nakheel properties has set August 25 as a final date to issue the much-awaited Dh4.8-billion sukuk, as part of our $13-billion debt restructuring plan, to creditors after a two-month delay attributed by the company to administrative reasons. The company has completed all administrative and auditing procedures need to start issuing sukuk. The sukuk would not be listed at any party at the beginning to ensure all options for creditors to benefit from these sukuk. Creditors can sell or mortgage their sukuk in exchange for credit facilities, listing could be set later said Nakheel's chairman. German Deutsche Bank would manage the sukuk process that could last between two and three months. The developer, which ran a parallel restructuring process to parent firm Dubai World, has offered trade creditors repayment of 40 pct cash and the remaining 60 pct in the form of sukuk. Once its restructuring is complete, Nakheel will be owned by the Dubai government. omar1.1 iimm.bnm.gov.my
Source: Al Arabiya Digital

Loading comments ...
advertisment
advertisment


 Regional Sites

Regions Most Popular

- Al Arabiya

Islamic

- Islam Online
- Muslims
- Muslim Heritage
- 1001 Inventions

Regional News

- The National
- Qatar Morning Post
- Al Hayat
- Daily Bahrain
- Arab News
- Daily Saudi
- Emirate Times
- Saudi Arabia Telegraph
- Saudi Arabia Herlad
- Emirates Tribune

Business

- Sukuk
- Islamic Finance
- alJazeera Capital
- Middle East Forex
- Gulf Money
- Khaleej Forex
- Arabian Forex
- Al Arabiya Forex
- Emirates Finance Network
- Middle East Education

Middle East Vacancies

- Jobs in Saudi Arabia
- Jobs in Qatar
- Jobs in Abu Dhabi, UAE
- Jobs in Kuwait
- Jobs in Bahrain
- Jobs in Oman

Regional Marketing

- Marketing in Middle East
- UAE Marketing
- Qatar Advertising
- Kuwait Marketing
- Oman Advertising
- Bahrain Marketing
- Saudi Arabia Advertising
- Dubai Advertising