Dubai Ruler’s Private Equity Firm Reoirganizes its Debt
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Dubai International Capital LLC, the owner of Travelodge Ltd., reached an accord to alter terms of $2.5 billion of liabilities as Dubai’s state-linked companies restructure debt after roiling global markets in 2009.
Lenders will get 2 percent interest on about $2.15 billion of debt that will be extended for five years, Dubai Holding LLC, the company’s parent, said in an e-mailed statement today. The maturities of a further $350 million will be extended for three years at an “unchanged contractual rate of interest.”