Dubai-based contracting giant Drake & Scull International (DSI) has announced that it has successfully completed the restructuring of its corporate general bank debt in the UAE.
The company said in a statement that it has also secured new credit lines and working capital facilities for its ongoing and new projects portfolio.
DSI said it has obtained the support from all its creditors for the restructuring of its corporate general debt in the UAE after reaching an agreement with nine banks to refinance AED566 million.
The remaining tranche of the companys corporate general debt comprising the AED440 million sukuk will mature in November 2019. The company will initiate talks with its sukuk holders to refinance this tra…
Read the full article at: http://www.arabianbusiness.com/banking-finance/387156-dubais-drake-says-uae-bank-debt-restructuring-completed