Kuwait's Global Investment House 2013, 2012 bondholders OK deferrals

By Caroline Salls

Pittsburgh, Dec. 5 - Global Investment House said the holders of its bond issue due Nov. 24, 2013 and its bond issue due April 25, 2012 voted to defer principal payments due to bank lenders, defer an upcoming bond maturity and defer an increase in interest margins on the bank debt.

According to a news release, the holders of the 50 million Kuwaiti Dinar bond issue due 2013 and 45 million Kuwaiti Dinar bond issue due 2012 voted to defer principal payments to bank lenders, the April 25 bond maturity and the increase in bank debt margins all to June 10, 2012.

The bondholders also approved a 25 basis points cash payment to bank lenders, which will be paid in lieu of part of a pre-existing deferral fee.

Global Investment House is a Kuwait City-based investment company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.