Monday 23 May 2011

Kuwait's Aayan signs $744 mln restructuring deal - Maktoob News

Kuwaiti Islamic firm Aayan Leasing and Investment Co on Monday signed a 205 million dinars ($743.6 million) debt restructuring deal with creditors.

This amount is 62 percent of the Aayar's total debts, it said in a statement.

The firm, which was hit during the global financial crisis, has signed an agreement with nine creditors, seven of which are local, including Kuwait Finance House , Burgan Bank and Gulf Bank .

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