17.10.2011 - First Investment agrees with lenders on restructuring
First Investment Co., the Kuwaiti Islamic finance company known as Al-Ola, signed an agreement with its creditors to restructure 92 million dinars ($333 million) of debt. “We signed the accord last February with our six local lenders” including Al-Ahli United Bank, Kuwait Finance House, Burgan Bank SAK, Chief Executive Officer Khalid al-Sanaousi said in a phone interview. Kuwait International Bank, Commercial Bank of Kuwait SAK and Boubyan Bank were also part of the agreement, he said..............................................Full Article: Source
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