Industrial & Financial Investments Co., a Kuwaiti investment firm, signed an agreement to reschedule its debt of 61.2 million dinars ($218 million), the company said in a filing to the Kuwait Stock Exchange today.
It signed the agreement with Kuwait Finance House, Al Ahli Bank of Kuwait KSC, Commercial Bank of Kuwait and the Industrial Bank of Kuwait, which was appointed the manager of the debt, according to the filing.
Industrial & Financial is to repay the debt over five years, with a grace period of one year.
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