send to a friend by email

Four UK banks approve Dubai debts reschedule

2009-12-09

LONDON - U.K: banks of HSBC Holdings/quotes/comstock/23s!a:hsba, Standard Chartered, Lloyds Banking Group and Royal Bank of Scotland /quotes/comstock/23s!a:rbs have agreed to reschedule Dubai World"s debtas Zawya Dow Jones reported citing a report in Dubai"s Al Bayan newspaper. The four banks have asked for more information from Dubai World about interest on the planned delayed payments and will hold a meeting later this month as they await a response, the report said. It added that Dubai World is seeking to restructure around $26 billion of debt.