International Investment fails to make sukuk payment in grace period

By Caroline Salls

Pittsburgh, Jan. 27 - International Investment Group KSCC did not make the periodic distribution amount payment due Jan. 11 on the $200 million of trust certificates due 2012 issued by IIG Funding Ltd. within a three-day grace period, according to a notice to certificate holders.

International Investment did make the periodic distribution payment on Jan. 20, but the three-day grace period had expired by then.

As a result, the certificate holders must now indicate whether they want the related trust to be dissolved.

International Investment is an Al Safaa, Kuwait investment company.

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