Dec. 13 (Bloomberg) -- Nakheel pJSC's possible nonp-ayment of its Islamic bond due tomorrow will trigger defaults on two other securities, bringing the total of affected securities to $5.25 billion, bond documents show.

Investors are waiting to see if the Dubai state-controlled developer will pay the maturing $3.52 billion Islamic bond, known as sukuk. The Dubai government said on Nov. 25 that state- run holding company Dubai World is seeking a standstill agreement on its debt, including for the Nakheel unit.

The default would be triggered by failure of Nakheel or the guarantor, Dubai World, to make payment at the end of a grace period, the documents said. Nakheel has two weeks to remedy a default and prevent bondholders from starting legal proceedings. Nakheel's other two bonds are a 3.6 billion-dirham ($980 million) floating-rate note due in May and a 2.75 percent, $750 million sukuk maturing in January 2011.

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