Dubai World
Bonds of Nakheel (Dubai World subsidiary) currently trade 55 cents on the dollar; original issue $3.5bn
Attractive price or not? Will there be a standstill or a restructuring with a substantial haircut? Will Abu Dhabi bail out its cousin?
Would be interested in people's opinions on this.
Abu Dhabi will not bail out Dubai World on this one. If they were going to they would have never let this information become public. As for the price of the bonds it is hard to say because there are a myriad of things that could happen to the structure of the issues and how they might be payed out.
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