Dubai PE Unit Closes $2.5B Debt Restructuring

Law360, New York (April 5, 2012, 7:28 PM EDT) -- The private equity arm of Dubai Holding, which is owned by the emirate's ruler, has reached an agreement with lenders to restructure nearly $2.5 billion of debt, which follows more than two years of negotiations on the financing notes, it said Thursday.

Dubai International Capital said that its unnamed creditors have agreed to extend $2.15 billion worth of debt facilities for another five years in return for a 2 percent cash interest coupon on the notes. Another $350 million in debt notes were extended for three...
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