Tuesday, September 7, 2010

Dubai Holding Unit Delays Repayment of $555 Million Loan for Second Time

Dubai Holding Commercial Operations Group LLC, a real estate and hospitality group owned by the emirate’s ruler, said it received an extension on a $555 million revolving credit line until Nov. 30.

All lenders to Dubai Holding Commercial agreed to extend the facility, the company said in a statement to Nasdaq Dubai today. The facility is extended under “commercial terms,” it said.

Dubai Holding Commercial in July received a two-month extension on the loan at “commercial terms,” the company said then.

Source: Bloomberg

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