Gulf Finance House reaches deal with creditors

Bahrain-based Gulf Finance House has reached an agreement with creditors to delay the repayment of a $100m Islamic loan, the National has reported. GFH will repay a fifth of the loan this month, the company said, while the remaining $80m will be repaid in $20m blocks every six months for two years, retiring all of the debt by mid-2012. Under the original loan terms, $50m was to be repaid this month, with the remaining $50m repaid next year, the newspaper reported.