Nakheel to offer lenders interest 4% over benchmark
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Nakheel to offer lenders interest 4% over benchmark

Nakheel to offer lenders interest 4% over benchmark

Dubai-based developer, Nakheel is to offer lenders interest of four percentage points more than benchmark rates at a meeting today, Reuters has reported, citing two bankers with knowledge of the plan. In return, lenders would agree to extend the lifetime of the loans by five years, the bankers said. The loans make up part of the $10.5bn debt that Nakheel is seeking to reorganise, which also includes outstanding payments to suppliers and contractors.

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