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Kuwait’s GIH to get approval for delayed bond repayment

Kuwait's Global Investment House (GIH) is expected to receive approval tomorrow to delay the repayment of KD95m ($338.6 million) in bonds to November from June, Reuters has reported, citing two sources familiar with the matter. This deferral comes as the Kuwaiti investment firm undergoes its second debt restructuring in three years. If agreed, it would be the second time holders of the KD45m paper have agreed an extension, having initially pushed out repayment to June from April. "Bondholders have verbally agreed to the extension. The Thursday meeting will make it official," one banker, who asked not to be named, said.