Arab Today, arab today global investment house signs restructuring agreements
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Kuwaiti firm implementing $1.7bn proposal

Global Investment House signs restructuring agreements

Arab Today, arab today

Arab Today, arab today Global Investment House signs restructuring agreements

Global Investment House
London - Arabstoday

Global Investment House Kuwaiti Global Investment House has confirmed the signing of formal restructuring agreements with creditors. The arrangement allows the company to implement its $1.7bn restructuring proposal. The deal will also see Global\'s core fee businesses separated from its non-core principal investments.
In what is the company\'s second debt restructuring in three years, Global plans to create two special purpose vehicles, one to hold company assets and $1.3bn debt. The other will be used to increase capital for the parent company, with Global offering $433m of new shares to creditors, resulting in around 70 percent ownership of the investment firm.
In a statement, Maha Al-Ghunaim, chairperson and managing director of Global, said: \"Today represents a significant milestone for Global and is the culmination of intensive and constructive discussions with our financiers throughout this process. We are delighted to have achieved this successful outcome and by the overwhelming support financiers have shown Global throughout this process. We endeavour to maximise recovery for financiers and protect and safeguard the interests of all stakeholders in these unprecedented market conditions,\" she added.
Arul Kandasamy, chair of the coordinating committee of financiers, said: \"Global\'s senior management team has displayed pro-activity, professionalism and transparency throughout the process, which have allowed us to structure a unique solution that can serve as a template for other debt restructurings in the region.\"
Global investment is currently on Stock Exchanges in Kuwait, Bahrain and Dubai. The company has branches across the Middle East, in Bahrain, Dubai and Abu Dhabi (UAE), Jordan, Qatar, Turkey and Saudi Arabia.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today global investment house signs restructuring agreements Arab Today, arab today global investment house signs restructuring agreements

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today global investment house signs restructuring agreements Arab Today, arab today global investment house signs restructuring agreements

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday