'Nakheel to repay creditors in full over time'

Nakheel to repay creditors in full over time. (REUTERS)

Dubai's property developer Nakheel would repay 100 per cent of its agreed creditor claims over a period of time, it said in a statement on Thursday.
Nakheel said that it will receive an initial $1.5 billion of new funds from the Dubai Financial Support Fund (DFSF) to complete pending projects.
The company said it would offer customers the option of receiving 100 percent credit or swap agreements on properties that are closer to completion.
Trade creditors will be offered 100 per cent of their claims if they agree to a 40 per cent cash payment and 60 percent publicly traded securities, the statement said.

Print Email