Nakheel says it has finished USD16bn recovery from crisis
Property developer Nakheel has finished recovering from a USD16bn debt restructuring by repaying an Islamic bond this month, its chairman said on Monday. Ali Rashid Lootah told a small group of reporters that Nakheel had transferred funds for repayment of a AED4.4bn (USD1.2bn) sukuk issue maturing this month. "We are closing the restructuring file," he said. "We are a debt-free company as of yesterday." (Reuters)
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