A minority of creditors are resisting attempts by Dubai government-owned property developer Limitless to seal a restructuring on around Dh1.9 billion ($517 million) in bank debt, three banking sources said.
Saudi Arabia-based Arab Petroleum Investments Corp (Apicorp) hopes to issue one or two debt deals in the coming year, the energy investment company's chairman told Arabiya television.
"We hope next yea
Dubai's flagship carrier Emirates plans to raise "a lot of" debt next year to help pay off maturing debt of about $1 billion and finance aircraft deliveries, its president Tim Clark said on Sunday.
"We have bond
Bahrain’s government could soon be forced not to exceed 60 per cent of gross domestic product (GDP) when going for borrowing. Parliament’s financial and economic affairs committee has backed the Shura Council’s new law that p
Concern about Saudi Arabia's ability to cope with low oil prices pushed the cost of insuring its sovereign debt against default on Tuesday to its highest level since June 2009, when the global financial crisis was raging.
State-owned Emirates Global Aluminium (EGA) is in talks with banks to raise a $5 billion loan, four banking sources aware of the matter said on Wednesday, to refinance debt taken on for some of its projects.
EGA, created by the me
GFH Financial Group (GFH), a Bahrain-based financial group, has repaid $37.5 million to its debt syndicates.
These repayments are in addition to $33 million paid by GFH to its debt holders last year, and
Glencore shares tumbled more than 30 per cent to an all-time low on Monday on fears that the mining and trading company was not doing enough to rein in its debt to withstand a prolonged fall in global metals prices.
Indebted Kuwaiti financial firm Investment Dar is seeking court approval to help close a KD813 million ($2.7 billion) debt restructuring, according to an official document seen by Reuters.
The new plan, called Dasman, is designed
The United Nations General Assembly has approved what it described as global ‘basic principles’ for sovereign debt restructuring processes to improve the global financial system, an initiative that was inspired by Argentina's d