12 May 2010
(MENAFN) A statement issued by Nakheel said that the Dubai government has given the developer enough funds to repay a $980 million Islamic bond maturing on May 13, Reuters reported.
Nakheel announced that the Dubai Financial Support Fund has made available sufficient funds to allow for the repayment in full of the sukuk issued by Nakheel Development 3 Limited, which is due on 13 May 2010.
This Fund was established with the aim to distribute funds, raised via $20 billion sovereign bond program, to state-related entities.
Under the terms of Dubai World’s restructuring proposal unveiled on March 25, payment of the Islamic bond (sukuk) was conditional on Dubai World reaching a formal agreement with all of its creditors.
Nakheel, the builder of man-made islands shaped like palms, is widely expected to repay the bond on time, despite the absence of a formal debt deal on Dubai World.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more