| From Arabianbusiness.com: Investment Dar Co’s agreement to change Shariah-compliant debt terms last week may help revive sukuk sales after their 2010 tumble. The Kuwaiti owner of half of Aston Martin Lagonda reached an accord with creditors to pay KD1bn ($3.6bn) of Islamic bonds and loans over as long as eight years.
The company’s debt climbed to a bid price of 38 cents on the dollar from 33 cents before the agreement was reached, according to London-based investment bank Exotix Ltd. Moody’s Investors Service says the case sets a “good precedent” for Islamic bond restructurings worldwide..............................................Full Article: Source
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