Saudi steelmaker Al-Tuwairqi Group has signed a $1.9 billion debt restructuring of bank loans, London-based MEED said, citing anonymous bank lenders.
Final documentation for the restructuring has been signed by a group of 26 banks including National Commercial Bank, National Bank of Kuwait and Standard Chartered .
Restructuring details were not disclosed but banks are not taking a haircut on the principal loans made to the company.
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