Saad Group Offers to Settle Debt With Kuwaiti Banks, Qabas Says

Saad Group offered Kuwaiti lenders 20 cents for each dollar it owes them, Al-Qabas reported, without saying where it got the information.

Some lenders said they would accept 30 cents on the dollar and others sought 40 cents, according to Al-Qabas. The newspaper did not name the Kuwaiti creditors or the values of Saad Group’s debts under discussion.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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