Dubai Group has established two bank committees to speed up its debt restructuring, Bloomberg reports. Natixis’ Nexgen unit and Dubai-based Mashreqbank form one group representing the secured lenders, whose loans are backed by assets.
RBS and Emirates NBD lead the other group representing partially secured and unsecured lenders. The Dubai investment company is seeking to delay payments on $6 billion of loans.
Click here for the story from Bloomberg.
Click here for additional coverage from Reuters.