Exclusive Reuters report details Dubai World asset sales, credit default swaps up

Reuters exclusively obtained a key restructuring document presented to creditors of Dubai World in July 2010, which outlined the amount of money the troubled company expects to raise by selling assets in order to repay investors burned by its aggressive expansion. Credit default swaps on five-year Dubai debt edged four points higher to 460 basis points. The group, which owns stakes in retailer Barney’s, casino operator MGM Resorts International <MGM.N> and ports operator DP World <DPW.DI> said it hoped to raise as much as $19.4 billion from the sale. The news follows a previous exclusive from the meeting in July, when Reuters obtained partial details of the restructuring plan.