Dubai Holding extends £355m loan

first_imgWednesday 1 December 2010 7:24 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content CONGLOMERATE Dubai Holding’s main unit has extended a $555m (£355m) loan due on 30 November by one month, reinforcing niggling doubts over Dubai’s ability to resolve its debt troubles.This was the third extension for Dubai Holding’s loss-making hospitality and property arm, Dubai Holding Commercial Operations Group (DHCOG). It previously delayed the loan in July and September.“The extension is required to finalise a new long-term facility,” the company said yesterday.Analysts say there was general optimism that Dubai would be able to successfully restructure debt at Dubai Holding and its units.State-owned conglomerate Dubai World sent global markets reeling last year when it requested a standstill on almost $25bn of debt. The company secured unanimous approval for its restructuring plan in under a year.DHCOG, a unit of the conglomerate owned by the Gulf Arab emirate’s ruler, took a big hit from its exposure to Dubai’s property crash and said in June it might resort to asset sales to deal with its debt after posting a $6.2bn loss for 2009. center_img whatsapp Dubai Holding extends £355m loan Share Show Comments ▼ Tags: NULLlast_img

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