Nov. 28 (Bloomberg) -- Nakheel pJSC, the Dubai-owned developer whose parent is seeking to delay debt payments, may still meet the Dec. 14 deadline to pay a 14.7 billion United Arab Emirates dirham ($4 billion) Islamic bond, The National said, without citing anyone. Options also being considered by Aidan Birkett, managing partner for corporate finance for Deloitte LLp, include offering holders of the sukuk an 80 percent redemption, and a similar offer to bankers, the newspaper said. Dubai World might also proceed with a debt holiday under its standstill proposal made on Nov. 25 as it seeks to negotiate the extension of maturities including the Islamic bonds due Dec. 14 from its Nakheel property unit, the National said. The state-controlled company might choose to liquidate assets as a last resort in response to any legal action by creditors, the National said.
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Source: Bloomberg
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