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Bahrain bank to restructure $110mln debt

Posted on 22 May 2012

Gulf Finance House EC, a Bahraini investment bank implementing a recapitalisation plan, said it has obtained approval from sukuk holders to restructure $110 million (Dh404 million) of debt.
Holders of the Islamic bonds agreed to extend the maturity to June 2018, with a two-year grace period for the principal repayment amount in 2012 and 2013, the lender said in an emailed statement. “With the approval to restructure Gulf Finance House’s sukuk, we are now in a better position to accelerate growth initiatives for the future,” acting chief executive officer Hisham Al Rayes said, according to the statement………………………………………..Full Article: Source

 
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