Noor Inks 44 Million-Dinar Debt Accord With Kuwait Finance House
Noor Financial Investment KSCC signed an agreement with Kuwait Finance House (KFIN) to reschedule loans of 44 million dinars ($158 million), according to a statement filed on the Kuwait Stock Exchange today.
The reorganized amount, to be converted to long-term loans from short-term loans, accounts for 28 percent of Noor’s total debt, Noor said in the statement. The Kuwait-based investment company said it has rescheduled 75 percent of its total debt and is in talks with other lenders for similar agreements.
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