18.05.2009 - Central Bank of Kuwait likely to step in to bail out TID
From Menafn.com: The Central Bank of Kuwait (CBK) is likely to step in to bail out troubled Kuwaiti Islamic investment company, The Investment Dar (TID), which last Tuesday announced that it had defaulted on a periodic coupon payment to certificate holders on its $150 million Sukuk which fell due on April 27, 2009 and which is due for maturing in 2010. The interim Kuwaiti government's plan is for a number of Kuwaiti state utilities to participate in a debt-for-equity swap, the proceeds of which would help ease some of the cash flow problems at institutions such as TID, which in January 2009 called in Credit Suisse to help with a major debt restructuring plan........Full Article: Source