Second Dubai Holding subsidiary repayment default

16 Sep 2010

Dubai International Capital (DIC) is seeking a second repayment deferral from a group of lenders headed by HSBC.

The troubled investment company is negotiating the restructuring of $2.6bn in debt. The deferral request is on a $1.25bn loan which was originally due for repayment in June.

The company plans to discharge its restructured debt with a series of asset sales over an extended five year term, if ...

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