VOL. XXXVIIINO. 1112-DECEMBER-1994

Financial and Banking News

Capital Markets

KIIC Reaches Agreement With Bond Holders

Kuwait International Investment Company (KIIC) signed an agreement with itsbond holders on 27 November concerning the repayment of a KD10mn ($34mn) bondissue which fell due in October. The creditors will receive 40% of what they areowed in cash and the remainder in shares. Half the shares will be in CommercialBank of Kuwait and half in the local International Transport Equipment...