Middle East Economic Survey

VOL. LIII

No 24

14-Jun-2010

KUWAIT

KFIC Agrees $495Mn Debt Restructuring Deal

The Kuwait Finance and Investment Company (KFIC) has signed an agreement with its lenders and shareholders to restructure KD145mn ($495mn) in debt, it announced on 7 June. The five-year restructuring proposal was approved by all 22 local and international lenders, and will see the debt paid in four tranches, the last of which will be settled on 31 December 2014. The companys debt restructuring...