Nakheel offers to repay Islamic loan in 7 years
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Nakheel offers to repay Islamic loan in 7 years

Nakheel offers to repay Islamic loan in 7 years

Dubai-based property developer Nakheel has proposed repaying its bank debt after five years and one outstanding $1.85bn syndicated Islamic loan after seven, Reuters has reported, citing a source close to the company. Bankers have until the end of August to respond to undisclosed terms of Nakheel's multi-billion dollar restructuring plan, including the rates of interest and repayment schedules for syndicated and bilateral loans.

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