Kuwait's Investment Dar eyes second debt-for-assets deal by March

Investment Dar, the Kuwaiti firm best-known for its stake in luxury carmaker Aston Martin, hopes to complete a second debt-for-assets deal with creditors by the end of March. The firm has received the backing of a significant majority of investors for the proposal, which would see creditors voluntarily exchanging debt for ownership of a portfolio of assets. No details or terms for the so-called settlement-in-kind proposal have been released, although the Nov. 18 update said there would be no losses imposed on creditors under the plan and no change to the existing maturity of the debt.