Bahrain-based Islamic investment bank Gulf Finance House (GFH) has obtained approval to restructure a $110 million Islamic bond, extending repayment for six years, the company said in a statement on Sunday.
Sukukholders worth 92 percent of the issue agreed to the restructuring plan, which will push out the maturity to June 2018, the statement said.
GFH has been granted an initial two-year grace period for 2012 and 2013, meaning repayment will start in 2014, with the final instalment due in 2018.
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