The final deal involves creditors extending maturities for up to 12 years, with the length of time dependent on the level of security against specific debts, so Dubai Groupís assets can recover in value before being sold to meet its obligations. While the company has signed the deal document, the formal completion will not be for a few days, as lenders have to sign an amended inter-creditor agreement which removes references to the loan facility secured against Dubai Groupís 30.5 per cent holding in Malaysiaís Bank Islam , the sources said. The stake was sold at the end of last year to BIMB Holdings and the sources said the money from the divestment has now been delivered to those banks who held security against the asset. Some of these lenders had held off signing the restructuring deal until the cash was placed with them, meaning a target to sign the formal deal by the end of 2013 was missed. Creditors have two parts to the restructuring document; one part which deals with their specific claim against the company, which has already been formally completed, and a second inter-creditor agreement which manages the overall restructuring. Out of its $10 billion total debt, $6 billion is owed to banks and the remaining $4 billion is classed as inter-company loans.
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