Kuwait Finance House (KFH) signed an agreement with Gulf Investment House (GIH) to restructure its debts that reach KD49.5m.
The agreement was supervised by Liquidity Management House (LMH). The collaborators of the agreement were: Boubyan Bank and Burgan Bank.
Mr Emad Al-Thaqeb stated that the agreement comes as part of a program to support local investment companies, which is supported by the Central Bank of Kuwait.
92 Million Kuwaiti Dinar debt restructuring of First Investment Company was completed with success by Liquidity Management House (LMH).
This was a unique deal between FIC and its creditors, being the first that used Sukuk for the purpose of restructuring a company's existing debt obligations.
The team was made of Emad Al Monayea, Vice Chairman and CEO, Masroor Ahmed Siddiqui, Senior Vice President of Investment Banking, and Mubarak Al Refaei.