فاينانشال تايمز: دبي القابضة تدرس خيارات هيكلة ديونها
أرقام 29/03/2010
قالت جريدة الفاينانشال تايمز اللندنية أن شركة “دبي القابضة”، إحدى كبرى الشركات في دبي، تدرس الخيارات المتوفرة فيما يخص ديونها بما في ذلك إعادة الهيكلة لديون تبلغ قيمتها 20 مليار دولار.
وأضافت أن المناقشات بين الدائنين ومستشاري الشركة تصاعدت في الأسابيع التي سبقت إعلان دبي العالمية عن خطة لإعادة هيكلة ديونها.
ونقلت الصحيفة عن مصادر مطلعة أن الشركة قد تعين مستشارا ماليا خلال الأشهر القليلة القادمة لاستكشاف فرص إعادة هيكلة الديون. وتهدف دبي القابضة الى الاستفادة من التفاؤل الذي ساد مؤخرا عقب الإعلان عن خطة دبي العالمية حسب الصحيفة.
يذكر ان أنشطة دبي القابضة تتركز في مجال العقارات عبر عدة شركات تابعة من بينها “دبي للعقارات” التي تطور مشروع الخليج التجاري و”مجموعة جميرا” التي تمتلك عدداً من الفنادق من ضمنها برج العرب، كما تعد شركة دبي انترناشيونال كابيتال الذراع الاستثمارية للشركة للعديد من الأصول خارج الإمارات.
Dubai Holding eyes debt options
By Simeon Kerr in Dubai, Anousha Sakoui in Los Angeles and Megan Murphy in London
Published: March 29 2010 00:02 | Last updated: March 29 2010 00:02
Dubai is struggling with broader debt issues AFP
Dubai Holding, a conglomerate owned by the emirate’s ruler, is looking at options that could include restructuring to deal with as much as $20bn in debts as the Gulf commercial hub looks to grapple with broader debt issues.
The group, which spans financial investments, hospitality and real estate, could become the second large entity in Dubai to restructure debts after government-owned Dubai World tabled a restructuring proposal last week, including a $9.5bn injection of new money to help restructure $24.8bn in debts.
Talks between creditors and advisers had picked up in the weeks before Dubai World’s announcement, which was broadly welcomed as it pledged to repay creditors in full over time but with question marks over interest rates.
The government refused to be drawn on whether Dubai Holding would restructure its debts, but said that the government would not rule out future issues.
Dubai Holding, Sheikh Mohammed bin Rashid Al Maktoum’s holding company, is considering appointing a financial adviser to explore the rescheduling of loans over the next few months, one of the people said.
But others warned that it remained too early to talk about a restructuring and that no final decision had been made. Dubai Holding declined to comment on “speculation”.
Dubai Holding, which accounts for large parts of the domestic economy as well as holding a portfolio of international assets, may be hoping to piggy-back on optimism generated by a Dubai World proposal that avoids a haircut on the principal debt.
But after so much focus on Dubai World, the restructuring of another state-linked conglomerate would act as a reminder of the city’s broader $109bn debt mountain and a property overhang.
Restructuring efforts are expected to focus on the now-merged Dubai International Capital and Dubai Group, which both used large amounts of leverage to build up significant overseas portfolios during the boom. DIC has a $1.25bn loan maturing in June.
Analysts estimate that much of Dubai Holding’s estimated $20bn in debts is held by the investment arms, which own the UK’s Travelodge and the Essex House Hotel in New York. But bankers say the holding company could also have significant private bilateral loans.
The department of finance, advised by boutique investment bank Moelis, is leading the restructuring of Dubai World, and could also help guide the government through a restructuring of Dubai Holding, which has received at least $1bn from the emirate’s financial support fund, helping it meet repayments to date.
Dubai Holding cut staff and realigned business lines last year as it sought to cut costs as the emirate’s financial crisis grew, while some assets have been sold – including part of its stake in regional investment bank EFG-Hermes – to help meet debt payments.
The non-financial wing, Dubai Holding Commercial Operations Group, spans real estate, hospitality, telecoms and business parks, has been downgraded but analysts are less concerned about its ability to meet debt repayments.
FT.com / Financials – Dubai Holding eyes debt options
Dubai Holding may restructure $20 billion debt: report
Dubai Holding DUBAHC.UL, which spans financial investments, hospitality and real estate, may appoint a financial adviser to explore the rescheduling of loans over the next few months, the paper said, without citing sources.
A spokesman for Dubai Holding was not available for comment.
Dubai’s government earlier in March pledged to inject $9.5 billion and recapitalize debt-laden Dubai World DBWLD.UL and fully repay the bondholders of its property unit Nakheel.
Rating agencies in recent months downgraded a unit of Dubai Holding, citing the lack of information about the state’s ability to support the business.
The downgraded unit, DHCOG, is estimated to owe two thirds of Dubai Holding’s entire debt. At the end of 2008 DHCOG had total assets of nearly $50 billion.
Dubai Holding is one of the emirate’s three conglomerates along with Investment Corporation of Dubai and Dubai World. Dubai Holding is in the sights of jittery investors who are concerned about Dubai’s wider debt pile.
“There might not be much cash left from currently available funds for unfinished real estate projects by other developers such as Dubai Properties, funding fiscal deficit for this year and the next, and potential restructuring for Dubai Holding which is the next box to tick after DW,” Credit Suisse said in a research note dated March 25.
Dubai Holding consists of DHCOG, Dubai International Capital (DIC) and Dubai Group, which owns assets in the UK’s Travelodge and Madame Tussauds.
Talks between creditors and advisers had picked up in the weeks before Dubai World’s announcement and restructuring efforts are likely to focus on DIC and Dubai Group, the FT said.
DIC has about $1.9 billion of debt maturing in the first half of 2010.
Dubai Holding in January sold a 7-percent stake in Egyptian investment bank EFG Hermes (HRHO.CA).
Billionaire financier George Soros is bidding to buy a stake in the Bombay Stock Exchange held by a unit of Dubai Holding, India’s Business Standard also reported on Monday.
Dubai Holding may restructure $20 billion debt: report | Reuters
السووووووووووووووق بشكل عام في صعود بعون الله ويجب ان يمر بمراحل هبوط ليصعد من جديد.
وان شاء الله خير.
السلام عليكم ورحمة الله وبركاته اليوم دبي القابضة و ممكن غدا جداول السعودية مع إعمار لاحول ولاقوة إلابالله
السلام عليكم ورحمة الله وبركاته
بسم الله الرحمن الرحيم
الحمدلله والصلاة والسلام على رسول الله وعلى آله وصحبه أجمعين
بيت التمويل الخليجي طلب هيكله الديون ولم تفلس سوق الكويت ولا حتى السهم نفسه ولا كل شي
بس احنا اذا بتمطر في فرنسا احنا بنبتل
في يوم بنتاثر بالاوزون يمكن ؟؟؟؟
سبحان الله
واحنا وشهو الربط بينا وبين هذي الهيكله ؟ هل الشركات التي في السوق مسعره بارقام عاليه او تتداول بااسعار يجب ان تهبط خوفا من الانهيار المزعوم بالهيكله
هل اعمار سعره عالي بسعر 4 درهم واهو نازل من 12 درهم ؟؟؟؟؟؟؟؟؟؟؟؟؟