Kuwait's National Industries Group has signed a memorandum of understanding to sell a 29.9 percent stake in Noor Financial Investment Co to an unidentified buyer for 28 million dinars ($99.43 million), the company said on Sunday.
Kuwait's National Industries Group Holding (NIG) will repay its $475 million Islamic bond, or sukuk, when it matures on August 16, it said on Tuesday, dropping plans to get a four-year extension from creditors.
Moody's Investors Service has downgraded to B3 with a stable outlook from B2 with a negative outlook the Corporate Family Rating (CFR) and Probability of Default Rating (PDR) of National Industries Group Holding (NIG), as well as the instrumen
Kuwait's National Industries Group Holding (NIG) has extended the subscription period for a capital increase after its stock fell below the issue price.
In May, NIG's shareholders approved a 25 percent capital increase; offering 294.3
National Industries Group (NIG) plans to raise $1.5 billion by selling Islamic bonds, the company's chairman said.
Citibank, Standard Chartered and BNP Paribas are among the arrangers, and presentations to investors will start next week, c