Nakheel bank debt stands at $10.9bn
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Nakheel bank debt stands at $10.9bn

Nakheel bank debt stands at $10.9bn

According to a restructuring document, Dubai-based Nakheel has $10.9bn of bank debt and will receive key assets from parent company Dubai World for its business plan after separation, Reuters has reported. The developer currently has $5.1bn of trade creditor claims and $9.2bn of customer liabilities, according to the document. The government will pump $7.3bn of new equity and equitise a further $5.3bn of claims to recapitalise Nakheel, the document said.

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