Dubai World wants $22bn debt freeze this month

Published 10th Feb 2010

Dubai World intends to ask creditors for a six-month standstill on $22bn in debt this month, until it completes restructuring, an Arabic-language daily said on Wednesday.

According to a report published in the Al Ittihad newspaper, Dubai World will request a debt freeze from the end of February, which would cover a bond repayment of $980m from property unit Nakheel.

A spokesman for Dubai World said the company has not released a statement on a standstill and declined to comment further.

Source: ' PropertyWeek '

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