Cha kushangaza Tanganyika ndio yenye kuutaka Muungano kuliko Zanzibar. Kulikoni?
[h=1]Dubai World Reaches $23.5 Billion Debt Deal[/h]
7:19 a.m. | Updated Landon Thomas Jr. has more on what the Dubai deal means.
Dubai World, the indebted investment arm of the Arab emirate, said Thursday that it had reached a tentative deal with major creditors to restructure $23.5 billion in liabilities, charting a path out of uncertainty for an economy hit hard by the global economic downturn.
A final proposal of the agreement, while it does not have the support of all creditors for the time being, will be sent to the coordinating committee of seven banks, a spokesman for the Dubai government said.
The deal struck for the headline economic terms is with creditors who represent 60 percent of what Dubai World owes; to finalize it, Dubai World needs the approval of all creditors.
The proposal puts the company on a sound financial footing and reflects the continued support of the government of Dubai and its lenders, Aidan Birkett, Dubai Worlds chief restructuring officer, said in the statement. It offers the company the ability to maximize the value of its assets over the medium to long term.
Dubai World said the basic terms of the deal had not changed since March 25, when the Dubai government announced it would put up $9.5 billion to help Dubai World and its real estate arm Nakheel restructure the loans. The government did not offer additional aid with the agreement announced Thursday.
The restructuring, if approved, will leave the company with $14.4 billion of debt altogether, divided into an A tranche of $4.4 billion maturing in five years, and a B tranche of $10 billion maturing in eight.
The lenders on the coordinating committee are
RBS,
HSBC,
Lloyds,
Standard Chartered,
Bank of Tokyo-Mitsubishi
UFJ,
Emirates NBD and
Abu Dhabi Commercial Bank.
Chris V. Nicholson
http://dealbook.nytimes.com/2010/05...-restructure-debt/?_php=true&_type=blogs&_r=0