Kuwait’s Global Investment Housesaid on Sunday that it had secured the approval of creditors to restructure two bonds worth 95 million dinars ($337 million) as part of the company's second debt overhaul in three years.
Bond holders have approved the restructuring of a 50 million dinar bond maturing in 2013 and of a 45 million dinar bond maturing in 2012, according to filings on the Kuwait stock exchange.
Global, which has suffered from a real estate slump and market turbulence, lost 14.9 million dinars ($52.8 million) in the three months to Sept. 30 versus a 15.5 million dinars loss for the same period of 2011.
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