Dubai-based real estate developer Nakheel said it has repaid lenders AED 211m ($57 million) as part of its debt restructuring.

"Nakheel released today profit and interest payments equivalent to AED 211m to its lenders. The payments were due at the end of August 2012 in accordance with the restructuring commitments," the company said in an emailed statement on Wednesday. It added the payment reflects Nakheel's commitment towards successfully implementing its restructuring.

Dubai's Nakheel repays AED 211m to lenders as part of restructuring

The real estate developer and builder of Dubai's 'palm' artificial islands has made the payments as part of its debt restructuring commitments

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