Saudi Banks Said to Meet on Mobily Debt After Accounting Errors
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Lenders to Etihad Etisalat Co. are meeting to discuss the effects of the Saudi Arabian company’s accounting errors on 10 billion riyals ($2.7 billion) of loans, according to three people with knowledge of the matter.
The group of seven local banks will get together at 4 p.m. in Riyadh, the people said, asking not to be identified as the meeting is private. The lenders will discuss whether loan covenants were breached because of the accounting errors, two people said.