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Sat 26 Sep 2009 11:20 AM

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Kuwait's KFH rechedules $460m Aref Investment debt

Amount to be used to pay group's commitments to foreign banks, inv't funds.

Islamic lender
Kuwait Finance House (KFH)

said it rescheduled KD132m ($460.7m) in debt for Kuwait's
Aref Investment Group

.

"
Kuwait Finance House (KFH)

has signed an agreement to reschedule the debts of Aref Investment Group that reached KD132m, which will be used to pay the group's commitments to foreign banks and investment funds,"
KFH

said in a statement on Saturday.

Several major Kuwaiti investment firms have been hit hard by the global financial crisis and are struggling to meet debt requirements. (Reuters)

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