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Mon 03 Mar 2010Dubai World 'to seek repayment delay'
Dubai World, the state-owned holding company in talks to renegotiate about $26 billion of debt, will ask banks for permission to delay loan repayments when it presents a plan to creditors this month, said three bankers familiar with the talks.
Banks may be able to avoid a so-called haircut, where they receive less money than what they are owed, if they wait to be repaid, said two of the bankers. The banks may also receive a guarantee from Dubai's government, one of the bankers said.
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