Kuwait's Global Investment House said on Tuesday that it would ask creditors to further extend a deadline for repaying debt to November from June as part of a restructuring proposal it plans to submit soon.
The company, which is undergoing its second debt restructuring in three years, did not specify an amount.
"The main point is that Global is progressing in its negotiations with lenders," a statement filed on the Dubai bourse said. It has asked for the repayment deadline to be pushed to Nov. 10 instead of June 10, it said.
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