April 6, 2017 / 8:10 AM / 4 months ago

Dubai's DSI to talk with banks about existing debt, new facilities -CEO

DUBAI, April 6 (Reuters) - Dubai's Drake & Scull International (DSI) plans to begin talks with banks in May about its existing debt and seek financial backing for new projects, Chief Executive Wael Allan told Reuters on Thursday.

The builder has sent non-disclosure agreements to its lenders and will continue to do so until mid-April, Allan said in a phone interview.

DSI aims to discuss the rescheduling of payments on existing debt and to seek support for its 2017-2021 business plan, he said.

It appointed PricewaterhouseCoopers in December as a strategic and financial advisor to assist with "examining the company's capital structure and financial liabilities".

Editing by Jason Neely

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