April 12 (Bloomberg) -- Dubai Group LLC, an investment company owned by the emirate’s ruler, proposed to creditors that it extend its debt 12 years at an interest rate of 1 percent, Reuters reported, citing people it didn’t identify.
The company sent the proposal to lenders this week and will present it to banks April 16, focusing on $6 billion in bank debt the group wants to restructure, the news agency said. Dubai Group owes an additional $4 billion to other investors.
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