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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Kuwait’s NIG to repay $475 mln sukuk on time

Posted on 15 August 2012

Kuwait’s National Industries Group Holding (NIG) will repay its $475 million Islamic bond, or sukuk, when it matures on August 16, it said on Tuesday, dropping earlier plans to get a four-year extension from creditors.
NIG, an investment firm controlled by one of the country’s biggest merchant families, asked creditors in July to extend 70 percent of the sukuk maturity to 2016 in exchange for a much higher interest rate………………………………………..Full Article: Source

 
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