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04-07-14

Dubai World repays USD300m to creditors

(MENAFN) Dubai World, one of the emirate's big state-owned conglomerates, has recently made USD300 million repayment of its USD25 billion debt restructuring plan, according to Arabian Business. The company could raise the money from asset sales and an initial sum of USD284.5 million returned in March to creditors, which include dozens of local and international lenders. The company also planned to make further early debt repayments after the March payment, and meet the first scheduled repayment under the restructuring plan, USD4.4 billion due in May 2015.