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Gulf Finance House restructures $45m Islamic debt

Bahrain-based Gulf Finance House (GFH) has restructured $45m in debt which Islamic investment bank is to pay back over the next six years, Reuters has reported. It is the second time that GFH has restructured the facility. In March 2010, ahead of a $50m repayment, the firm said it had scheduled payments so $20m was paid immediately and the remainder in equal half-yearly instalments until 2012. "GFH has already paid $55m of the total amount in the past and now has restructured the remainder," it said.