06 Jan 2012
(MENAFN) Nakheel’s chairman, Ali Rashid Lootah, said that within the coming 6 months, the developer hopes to issue its second tranche of Islamic bond (Sukuk), reported Gulf News.
Lootah added that so far, the company was successful in negotiating contractor claims worth USD272 million, moreover, the contractors would be repaid 40 percent in cash and 60 percent through the bond.
He also said that the company finished the restructuring of a total of USD16.06 billion in debt, including USD8.71 billion of government debt that would be converted into equity.
It is worth noting that Nakheel, currently controlled by the Dubai government, issued its first tranche of a USD1.31 billion sukuk to trade creditors in August as part of the developer’s restructuring.
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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