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.