Global wins approval to restructure bonds

26 November 2012

Shareholders will vote on delisting Global Investment House on 26 November

Kuwait’s Global Investment House (GIH) has said it has received approval from investors to restructure KD95m ($337m) of bonds as the company goes through its second debt restructuring in the past three years.

The agreement covers a KD50m bond that matures in 2013 and a KD45m bond that matures in 2012, although creditors also approved extending the 2012 bond until 10 June 2013.

Global is also set to hold a meeting with shareholders on 26 November to approve a plan to delist the company as part of its debt restructuring proposal.

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