Nakheel to Raise Debt to Finance New Projects, Al-Ittihad Says

Jan. 8 (Bloomberg) -- Nakheel PJSC is in talks with banks to arrange financing for new projects in Dubai, Al-Ittihad reported, citing Chairman Ali Rashed Lootah.

It will be Nakheel’s first attempt to raise money from the debt market since its restructuring in 2009, Al-Ittihad reported. Lootah declined to specify the amount sought by the Dubai-based company, according to the newspaper.

To contact the reporter on this story: Zainab Fattah in Dubai at zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net