Global repays $70 million bond
Kuwait, December 23, 2009
Kuwait's Global Investment House said on Wednesday it has repaid on maturity a KD20 million ($69.81 million) bond.
It said the bond matured on Wednesday.
"Settlement of KD20 million bond on its due date of December 23, was one of the conditions precedent to three year amortising facilities signed with each of Global's 53 lending banks on December 10," the company said in a statement.
On December 10, Global reached a deal with its creditors to reschedule $1.7 billion in debt after it defaulted on most of its debt in December 2008. – Reuters