REFILE-Nakheel bond prices tumble to record lows of 40

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Fri Nov 27, 2009 4:26am EST

(Corrects day in first paragrpah)

LONDON Nov 27 (Reuters) - Dubai-owned property firm Nakheel's [NAKHD.UL] Islamic bond prices extended losses on Friday, falling 30 points to a record low of 40, according to Reuters data.

The debt XS0277553052=R, which was originally due to mature on December 14, 2009, traded as high as 110 on Wednesday before the Dubai government said it would ask creditors to agree on a standstill of debt held by Nakheel and Dubai World and extend maturities until at least May next year.

The other Nakheel's debt, maturing in January 2011 XS0335122106=R, traded as low as 58 on Thursday. It has not traded on Friday. (Reporting by Natsuko Waki) ((natsuko.waki@reuters.com, +44 207 542 6721, Reuters Messaging: natsuko.waki.reuters.com@reuters.net))

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