Global markets are in panic mode : Dubai’s debt rescheduling
By martine • Nov 27th, 2009 • Category: Finance, GlobalOn concerns about Dubai’s debt rescheduling, Global markets are in panic mode. Dubai Govt. confirmed that DP World and its debt are not included in the restructuring process for Dubai World announced earlier today.
• Dubai World with USD 60 billion liabilities will seek a six-month “standstill” on its debts with all lenders.
• Dubai’s sovereign CDS surged 111bps [...]