Noor Financial Investment is asking its banks for a six-year extension on loan repayments, joining a growing list of Kuwaiti investment houses forced to renegotiate debt after the financial crisis.
Kuwait's investment companies flourished in the early 2000s by borrowing short-term money, buying flashy investments and delivering big returns.
When banks curtailed lending after the crisis hit in 2008, however, their financing lifeline was cut off, leaving them with little cash and large debts to repay.
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