Kuwait’s Global Investment House has said it is asking creditors to delay a debt repayment due on 10 June until 10 November.

The extension request also raises the possibility of extending the repayment for an extra month, to December. The company says it has asked for the latest extension in order to get a fresh round of debt restructuring agreed.

The firm is currently involved in its second debt restructuring in three years and Global Investment House said in a statement that a new restructuring plan “will be circulated to lenders in the near term” and that the debt delay will give creditors “time to review the detailed term sheet”.

Earlier in May the company said it had repaid $242m, or 13.7 per cent, of its restructured debt. Global was one of the first companies in the region to restructure its debts as a result of the financial crisis when it renegotiated $1.7bn of debt repayments in 2009. By September 2011 it had announced it needed to change the terms of that deal.