Kuwait's Global Investment House (GLOB.KW) made a net loss of 5.6 million dinars ($19.6 million) in the third-quarter, on investment losses and the losses of associates, it said on Monday.
Global, which defaulted on most of its debt earlier this year, is one of the largest investment companies in the Gulf Arab state facing problems amid tight credit conditions.
"The size of total bank debt to be restructured is expected to be 500 million (dinars) ... The outstanding bonds of 89.5 million (dinars) are expected to be paid as per their scheduled maturities," Global said in the statement.
No comments:
Post a Comment