Bahrain-based Islamic investment bank Gulf Finance House (GFH) said on Monday it has restructured $45 million in debt which it will pay back over the next six years.
The cash is part of a $100 million wakala-structured facility, compliant with Islamic law, that is led by the Bahrain-based Liquidity Management Centre (LMC), GFH said in a statement.
It is the second time that GFH has restructured the facility. In March 2010, ahead of a $50 million repayment, the firm said it had scheduled payments so $20 million was paid immediately and the remainder in equal half-yearly instalments until 2012.
No comments:
Post a Comment