Complex Made Simple

Nakheel to issue $1.3bn Islamic bonds this week

The chairman of Nakheel has announced that the Dubai's property developer will issue its long-delayed Dh4.8bn ($1.3bn) Islamic bond this week as it launches a five-year restructuring plan. Chairman Ali Rashid Lootah has told Arabic daily al-Khaleej newspaper that the restructuring plan will begin as the company reached agreements with financial and trade creditors.