GulfBase Live Support
Leave a message and our representative will contact you soon
29/06/2015 16:23 AST
Dubai real estate developer Limitless will repay Dh2.07 billion ($564 million) to bank and trade creditors and has secured the assent of almost 90 per cent of banks to extend its remaining debt to December 2018, it said on Monday.
The cash payment, equivalent to 42 per cent of its Dh4.45 billion ($1.21 billion) total debt pile, will be funded by the sale of part of its land bank in Saudi Arabia, the company said in a statement.
Limitless's talks with creditors have been arduous. It missed a $400-million payment deadline linked to a previous restructuring deal on December 31, though its prior request for an extension meant it was not technically in default.
Reuters
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
RIBL | 13.83 | 1,519,548 |
JARIR | 177.89 | 111,251 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula