迪拜世界债务重组无望速战速决

【英文原文】

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Dubai World Launches Revamp Talks
Dubai World's bid to restructure about $22 billion of debt kicked off, but an initial meeting with creditors delivered little hope of a quick settlement.

Bankers representing more than 90 lenders gathered Monday at the Dubai World Trade Center's Sheik Maktoum conference hall to hear an initial presentation from Dubai World's restructuring team, but there was no formal proposal for a standstill on the conglomerate's debts.

'This is a long process that will take [a] long time,' said a spokesman for the company.

Earlier Monday, the United Arab Emirates' economy minister, Sultan Mansouri, said Dubai could receive more financial support from the country's federal government in 2010.

'The way we see it, this is one economy,' said Mr. Mansouri in Abu Dhabi.

Dubai World, once a crown jewel in the business empire of Dubai's ruler Sheik Mohammed bin Rashid Al Maktoum, tipped the emirate into crisis on Nov. 25, saying it would seek to freeze its debts for six months.

Bankers attending the meeting were divided over whether creditors would accept a payoff on reduced terms, or agree to refinance Dubai World's obligations for an extended period.

'I can guarantee there will not be haircuts,' one local banker said of the likely outcome of the talks.

Dubai World is at the center of global concern that Dubai, the second-largest sheikdom in the U.A.E., may not be able to service the $80 billion of debt built up over the last decade to build real-estate projects and buy assets overseas.

The Dubai World spokesman said the company will make interest payments on its debts until a standstill can be agreed on with creditors.

Banks are now expected to form a creditors' committee headed by senior lenders, including HSBC Holding PLC, Lloyds Banking Group PLC, Royal Bank of Scotland Group PLC and Standard Chartered PLC.

【中文译文】

迪拜世界(Dubai World)约220亿美元的债务重组已经展开，但是和债权人的首次会面显示快速解决问题的可能性微乎其微。

代表90余家借款机构的银行家周一齐聚迪拜世界贸易中心的马克图姆酋长(Sheik Maktoum)会议大厅，听取迪拜世界债务重组小组的首次情况介绍，但是并没有就这家企业巨头停止偿债提出正式建议。

迪拜世界发言人说，这是一个需要投入很长时间来解决的长期进程。

周一早些时候，阿联酋经济部长曼苏里(Sultan Mansouri)说迪拜将在2010年从联邦政府获得更多财政支持。

曼苏里在阿布扎比说，我们的认为我们的经济是一个整体。

迪拜世界曾经是迪拜酋长阿勒马克图姆(Sheik Mohammed bin Rashid Al Maktoum)为这个商业王国所打造的一顶王冠，该公司在11月25日宣布暂停偿债六个月，将整个国家拖入了危机。

与会银行家在债权人是否应该接受降低条件的还款和同意为延期还债提供再融资这两个选择间出现了分歧。

一位本地银行家在谈及可能的结果时说道，我可以肯定不会出现价值扣减。

迪拜世界集中体现了世界各国对迪拜的担忧。人们担心这个阿联酋第二大酋长国可能无力负担其在过去十年中积累起来的800亿美元债务，迪拜用这些资金大建地产项目并收购海外资产。

迪拜世界发言人表示公司将继续支付债息，直至和债权人就何时停止偿债达成协议。

预计这些银行将成立一个债权人委员会，来自汇丰控股(HSBC Holdings)、莱斯银行(Lloyds Banking Group)、苏格兰皇家银行集团(Royal Bank of Scotland Group)以及渣打银行(Standard Chartered)等主要债主的代表可能会在委员会中牵头。