Nakheel PJSC, the builder of man-made islands off Dubai's coast, will issue Islamic bonds to trade creditors no later than August 25, Al-Khaleej reported, citing Ali Lootah, the company's chairman. The company, which is reorganising $13bn of debt, has delayed the issuance of 4.8 billion dirhams ($1.3bn) of sukuk to trade creditors after the administrative process took longer than expected, the newspaper said. Nakheel will not initially list the sukuk and Deutsche Bank AG will manage the distribution, which will take two to three months, the newspaper quoted the chairman as saying.