Mubadala Development Company is seeking to refinance a $2bn (￡1.2bn) loan. The Abu Dhabi-based company is behind schemes such as Masdar, the ￡13bn project to create the world's most sustainable city.Masdar has been hit by delays, and the opening date for the Masdar Institute, designed by Foster + Partners, has been pushed back from 2009 to September 2010. The scheme's overall completion date of 2016 has been dropped and no replacement has been announced.
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