Dubai World to pay USD14.7b of restructured debt

20 Apr 2015

(MENAFN) Dubai World, the investment company that manages and supervises a portfolio of businesses and projects for the Government of Dubai, reached a deal to pay USD14.7 billion of restructured debt, Gulf Times reported.

The company agreed to repay USD4.4 billion in September 2015, in addition to the remaining USD10.3 billion in 2018. It is said that Dubai World paid another USD2.92 billion to creditors following an agreement back in February.

Among Dubai World’s leading creditors are HSBC Holdings, Standard Chartered, Emirates NBD and Abu Dhabi Commercial Bank.

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