DUBAI-Distressed debt fund Aurelius Capital Management is thesole objector to a $25 billion restructuring agreement to bail outDubai World, according to the Financial Times. Aurelius isowed $5 million, and the only company out of more than 70 to notvote in favor of the agreement, the publication said Monday.
Neither company could be reached for comment. Dubai World hasoutstanding debt of about $14.2 billion, with $10 billion owed tothe Dubai government. The new deal involves the company repayingits loans over five to eight years at sub-commercial interestrates. For the full story, go to the Financial Times.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
