MidEast relief as GIH reaches restructuring accord

Kuwait’s Global Investment House took a major step towards restructuring its $3bn of debt when it signed an agreement with its creditors’ steering committee on Sunday.

  • 26 Oct 2009

GIH became one of first high-profile borrowers from the Middle East to default when it missed a payment on a $200m loan in December 2008, subsequently forcing it to restructure all its debt, most of which is in the form of loans.

GIH met creditors in Dubai last Monday ...

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