RESTRUCTURING

摘要

Al jaber croup is talking with banks to try to refinance around US$4.5bn of debt it restructured last year to improve terms imposed by creditors, Reuters reported. It is the latest company in the United Arab Emirates seeking to follow state-owned conglomerate Dubai World and renegotiate refinancing deals signed in the wake of Dubai's property crash in 2009. Family-owned Al Jaber, whose interests range from construction to retail and aviation, is keen to revise the tough terms of its restructured deal, while hoping to take advantage of low interest rates and reduce the interest rate on its debt and extend the maturity of its loans. Creditors have so far pushed back on any new deal though, with some claiming the company has not fulfilled the terms of the original agreement signed in June 2014. They are also reluctant to embark on a fresh restructuring as the last deal took three-and-a-half years to hammer out.