Drake & Scull International (DSI) will look to restructure its debt pile, which stood at Dh2.44 billion at the end of March, through the issue of a new sukuk or a syndicated loan, the companys acting chief financial officer Firas Kalthoum said on Sunday.
Mr Kalthoum, whose appointment was announced last week, said that he had already met three of the firms top six banks and said that he was “very optimistic” about restructuring the companys bank debt. A further Dh3.4bn is owed in trade debt and other receivables.
“In terms of restructuring the debts, we can definitely [do] other syndication or sukuk. Thats what we are considering. We have tested the waters with some of the banks and they are willing to consider it, but there is nothin…
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