• DIC seeks loan extension

Dubai International Capital, the majority-owner of Travelodge, is reported to have asked creditors for an extension on repayment of a $1.25bn loan.

According to reports, the group, which is part of Dubai Holding, has presented a restructuring plan that includes asset sales over a seven-year period. DIC has previously said that it did not expect to sell any assets before 2012 due to depressed values.

See the full story here:
http://www.reuters.com/article/idUSLDE68E1RA20100915

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