Nakheel sees $10.9bn debt restructuring by H1

Nakheel expects its $10.9 billion debt restructuring process to be completed by the first half of 2011.
It said it will soon issue restructuring agreements, including a term sheet for an Islamic bond offering, to trade creditors that have signed on to its restructuring plan.
Under Nakheel's restructuring proposal, trade creditors will receive repayment through 40 per cent cash and 60 per cent in the form of an Islamic bond, or sukuk.

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