Both UAE indices reversed the strong performances experienced last month with the DFM index closing down 5.6%, while the ADX lost 4.5%. The hustle regarding the Dubai World restructuring plan continued to impact the market, as Dubai World offered creditors a 1.0% interest rate on two new tranches of debt as part of its restructuring plan. Limitless, a Dubai World property unit and its creditors were able to negotiate a 90-day extension on a USD 1.2 billion loan that was due March 30, 2010, with the company expected to request payment of the loan over five years. Meanwhile, Nakheel offered its creditors a 10.0% return on planned Islamic bonds. Nakheel additionally elaborated its plans to pay creditors and contractors USD 8.2 billion in June. Arabtec Construction, a subsidiary of Arabtec Holding, also revealed that it would be paid 40.0% of its outstanding debt, due in April, by Nakheel.