Investment Dar Co., the owner of half of Aston Martin Lagonda Ltd., said its management and the coordinating committee that represents its creditors agreed to the final details of a restructuring plan.
The details of the "long form term-sheet, which sets out the mechanics of the proposed restructuring plan, were agreed" in meeting on March 16, Kuwait-based Investment Dar said in an e-mailed statement today. The plan is under review by a Kuwaiti court, which holds its next hearing on April 7, it said.
Investment Dar said last month it agreed with creditors to a revised plan to pay 1 billion dinars ($3.6 billion) of Islamic bonds and loans over as long as eight years. The company’s creditors include more than 100 banks and investors.
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