Standard Chartered, which is among the major creditors of Dubai World , expects debt restructuring talks with the firm to lead to a "fair and pragmatic" result, its chief executive said yesterday.

"I'm confident that (in) these discussions... the outcome will be fair and pragmatic for all parties," CEO Peter Sands said, sources told Reuters.

Standard Chartered is one of the seven banks in a core creditor committee that is negotiating with the debt-laden conglomerate on restructuring $26 billion in debt.

Sands met with government officials in Abu Dhabi, sources said, in a visit that comes as Dubai readies a formal proposal to creditors in the coming days.

A final proposal is seen including more than two tranches including repayment over three to five years with the principal discounted, and repayment over seven to nine years with no discount.

Last week, Standard Chartered put restrictions on internal trading of Dubai World's instruments ahead of an expected restructuring proposal, bankers said.

Dubai World, which ring-fenced key assets like ports operator DP World from the restructuring, has been in talks with a panel made up of Standard Chartered, HSBC, Lloyds, Royal Bank of Scotland, Emirates NBD and Abu Dhabi Commercial Bank, which are believed to have two-thirds of total exposure.

Bank of Tokyo-Mitsubishi, a unit of Mitsubishi UFJ Financial Group, joined the panel this year.