Limitless has received a fourth extension on its $1.2 billion credit facility, Bloomberg reports. The Islamic syndicated loan has been extended until July 31 from March 31 without a change in the terms.
The time will allow the real-estate developer, controlled by state-owned Dubai World, to complete a debt restructuring contract with creditor banks. Limitless secured the loan in 2008 from a group of 18 banks, including Royal Bank of Scotland and RHB Investment Bank.
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