Doncasters Group Ltd., an engineering company owned by Dubai International Capital LLC, asked banks to relax the terms of its debt totaling more than 700 million pounds ($1.1 billion), the Independent said.
The Burton-upon-Trent, England-based company asked Oriel Securities Ltd. to increase the amount of debt it can have for the next two years, the London newspaper reported, citing an unidentified individual. Banks led by Royal Bank of Scotland must approve the agreement, the report said. A spokeswoman for Doncasters didn’t immediately respond to telephone messages and an e-mailed request for comment.
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