Nakheel may offer trade creditors 10% return on bonds
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Nakheel may offer trade creditors 10% return on bonds

Nakheel may offer trade creditors 10% return on bonds

Dubai-based developer Nakheel plans to pay an annual return of 10% on Islamic bonds it seeks to issue to trade creditors, Bloomberg has reported, citing two people familiar with the proposal. The developer plans to issue the five-year bonds in July and list the securities on Nasdaq Dubai. The return will be paid twice a year. The deal is conditional on trade creditors representing at least 95% of the value of all claims agreeing to the proposal, the news service reported.

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