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FINANCIAL NEWS
Dubai’s Nakheel announces new USD32.66m sukuk issuance
12 Mar 2013
(MENAFN) Dubai’s Nakheel announced that it issued a USD32.66 million sukuk as part of its restructuring plan, reported Emirates 24/7.
The property developer, wholly owned by the Dubai government, said that the fourth issuance brings the total amount issued by the firm to USD1.16 billion.
Since November 2009, Nakheel has paid nearly USD2.72 billion to different trade creditors and contractors.
Nakheel’s first tranche was issued in August 2011, and in January, the company issued a sukuk worth USD32.93 million.
It is worth noting that Nakheel is going through a USD16 billion restructuring plan.
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