Dubai’s Nakheel announces new USD32.66m sukuk issuance
Dubai's Nakheel announced that it issued a USD32.66 million sukuk as part of its restructuring plan. This is the property developer's fourth issuance which brings the total amount issued by the firm to USD1.16 billion. Since November 2009, Nakheel has paid nearly USD2.72 billion to different trade creditors and contractors. Nakheel's first tranche was issued in August 2011, and in January, the company issued a sukuk worth USD32.93 million. Nakheel is going through a USD16 billion restructuring plan.