Amlak proposes new restructuring deal for Dh10bn debt
Published: Jul 03, 2014
Source: Emirates 24|7

News

Email this story Print this page zoomin zoomout

Amlak proposes new restructuring deal for Dh10bn debt

Mortgage lender proposes to make an initial down payment of 20% and remaining debt over 12 years

Dubai mortgage lender Amlak has made a new proposal to creditors to restructure and extend repayments of about $2.7 billion (Dh10 billion) of debt.

The Shariah-compliant mortgage lender, in which Dubai's biggest developer Emaar Properties owns a 45 percent stake, proposed in June to make an initial down-payment of 20 per cent, or about Dh2 billion ($545 million), a company spokesman said in a statement -  By Reuters. Read more>>>

© Copyright - Emirates 24|7
comments powered by Disqus

Middle East Stock Markets

Index Last Change %Change
TASI 7,085.11 0.00 0.00%
ADI 4,575.78 0.00 0.00%
DFMGI 3,636.38 0.00 0.00%
QE 9,313.49 0.00 0.00%
KSE 6,840.23 0.00 0.00%
MSM30... 5,083.370 0.000 0.00%
ASE... 2,146.09 0.00 0.00%

Recent Analyst Actions  >>

or
Company Price Opinion
Bank Muscat 0.52 Buy
Voltamp Energy Co. 0.52 Overweight
Jarir Marketing Co. 142.60 Overweight
Saudi Basic Industries Corp. 90.00 Neutral
Etihad Etisalat Co. 25.00 Neutral

Markets Today Quick Links

×

Get all the latest updates about the GCC & Global Markets directly to your email