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Dubai World hires Blackstone to look at debt options

Dubai World hires Blackstone to look at debt options
Conglomerate Dubai World has hired New York-based investment and advisory firm Blackstone Group to take a look at its debt and how to make repayments to creditors. This is only for advisory purposes and to streamline the available options for the debt maturing in 2018. No further restructuring of Dubai World’s debt was proposed. The first big debt maturity under the restructuring plan will come in May 2015, a USD4.4bn loan maturity, and is being seen as an important test of the plan. Another big maturity of about USD10bn is due in 2018, according to Khaleej Times.