Dubai – Mubasher: Emirates NBD and Dubai Islamic Bank (DIB) do not expect any negative impact on their financial position from the AED 4.27 billion debt conversion deal between DXB Entertainments and developer Meraas.
Both banks announced their knowledge of the resolution passed by the shareholders of DXB Entertainments regarding the debt conversion, according to bourse filings on Sunday.
Last week, the DXBE's shareholders approved the conversion of the company's senior bank debt acquired from Emirates NBD and DIB by Meraas Leisure and Entertainment with an outstanding balance of AED 4.27 billion as of 28 February 2021.
