The Investment Dar makes first payment to investors

23 October 2011

Payment to be made before end of October

Kuwaiti company The Investment Dar (TID) will be making its first payment to investors two months ahead of schedule to restructure its $5bn-worth of debt.

The implementation of the plan, which incorporates full repayment for all TID’s banks and investors, began on the 30 June 2011. The debt restructure plans includes giving creditors a 10 per cent stake in TID.

“The decision to make this first payment well in advance of the deadline set out in the court-approved restructuring plan is in line with our objective of ensuring the plan’s effective delivery,” says Adnan al-Musallam, chairman of The Investment Dar.

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