Kuwait's Global Investment House has agreed an agreement with its creditors to reschedule $1.7 billion in debt, Al-Arabiya television reported on Thursday.
The network said it had signed an agreement, citing sources.
Global Investment House defaulted on most of its debt and the borrower said in December 2008 that it had appointed HSBC as financial adviser to renegotiate the terms of existing credit facilities with the lending bank group.
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