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Al Tuwairqi restructures loans
- Saudi Arabia: Thursday, June 25 - 2009 at 11:29
Saudi Arabia's Al-Tuwairqi Group has hired HSBC Holding Plc to oversee a restructuring of its SR7bn ($1.9bn) bank loans, after the Saudi steelmaker was hurt by falling prices, Bloomberg has reported. The loans are from National Commercial Bank, the largest Saudi bank by assets, Samba Financial Group, al-Rajhi Bank and Saudi Hollandi Bank, as well as Standard Chartered Plc and National Bank of Kuwait, Saudi al-Watan newspaper had reported previously.
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StaffThursday, June 25 - 2009 at 11:29 UAE local time (GMT+4)
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