Browse
related articles
Dubai Group lenders reject RBS, Standard Bank offer
- United Arab Emirates: Monday, February 04 - 2013 at 05:20
Around 20 banks have declined an offer by Dubai Group, which is restructuring $6bn of debt, to receive 18.5 cents on the dollar in favour of full repayment over 12 years, Bloomberg has reported, citing two bankers familiar with the plan. The terms were made to the group after four lenders including Royal Bank of Scotland Group and Standard Bank Group had agreed to them earlier to end an arbitration case they had started against Dubai Group. The 20 banks were part of a group that provided Dubai Group $1.5bn in an Islamic murabaha loan in 2008 and included lenders such as Noor Islamic Bank and First Gulf Bank.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
