The debt-saddled company Dubai World may offer creditors 60 cents to the U.S. dollar on money it owes to them as part of a $22 billion debt restructuring deal, Zawya Doe Jones reported on Sunday.

The deal, which will not offer interest payments to creditors, will come with a guarantee from the Dubai government, enabling banks such as HSBC Holding, Royal Bank of Scotland Group, Standard Chartered and Abu Dhabi Commercial Bank to recover 60 cents for every U.S. dollar loaned to the troubled conglomerate after seven years, the news agency said.

An alternative option offers 100% debt repayment, including 40% of the Dubai World's debt in the form of assets in Nakheel, the company's property division, with no government guarantee over the same seven-year period, the agency said.

The Dubai government has not commented on this information but said it would present proposals on the Dubai World debt repayment in late March or early April.

The state-run Dubai World, a conglomerate with interests in financial services and property, asked in late November for repayment of its $60 billion debt burden to be suspended for six months. The news triggered stock market declines in several countries.

In late 2009, Dubai World held negotiations with creditors on restructuring debts worth $26 billion, including $3.5 billion owed by Nakheel. In December 2009, the government of Abu-Dhabi provided a $10 billion loan to neighboring Dubai, to save the company from a looming debt crisis.