IslamicFinance.de

Investment Dar Co. proposed terms on a restructuring plan to pay 1.4 billion dinars ($5 billion) to creditors.
It offered to pay 350 million dinars of debt over the first three years with 10 percent profit payments per annum.
The facility will amortize 45 million dinars after the first year, 125 million dinars in the second and full repayment of all outstanding amounts under the facility will be due in the final year.

Investment Dar failed to pay a “periodic distribution” due on April 27 to holders of its Sukuk maturing in 2010.