Dubai’s Limitless nets extension on $1.2bn loan
It seems that Limitless received a fifth extension on a $1.2bn loan as the real-estate developer administrated by state-owned Dubai World works on a restructuring plan.
This extension will allow Limitless to complete a debt restructuring deal with creditor banks.
Limitless is looking to extend the tenor of the loan by four to five years and plans to pay no interest over that period. The statement was given by a banker.