Investment Dar restructuring hangs on Kuwaiti court decision

12 Nov 2010

The Kuwaiti Central Bank is set to issue its report soon on struggling debtor Investment Dar, according to bankers familiar with the restructuring process.

The borrower has Kd1.2bn ($3.5bn) of outstanding debt, said a loans banker close to the restructuring. It is a mixture of bilateral loans, small syndicated facilities and two sukuks. The restructuring plan went to a court decision after 15% of the company’s creditors refused to agree to the ...

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