Investors push to dissolve $650 mln Saad bond

Creditors of the $650 million Golden Belt Sukuk may dissolve the bond and try to recover their cash before claims pile up against its issuer, financially-troubled billionaire Maan al-Sanea, persons familiar with the matter said.

"A letter will be delivered to the obligator to talk with creditors," a banker involved in the sukuk told news agency Zawya Dow Jones.

"Sanea will have seven days to respond and if he doesn't we'll go after his personal assets. The sukuk is backed with a personal promissory note."