The latest sign of trouble in the Islamic bond market…

National Industries Group Holding (NIG), a Kuwaiti investment firm controlled by one of the country’s biggest family conglomerates, has asked creditors for a four-year extension on a $475-million Islamic bond, or sukuk, maturing next month.

The request from NIG, part of the Kharafi Group, is the latest debt issue to surface in the Kuwaiti investment sector, which was hard hit by the 2008 global financial crisis.

http://in.reuters.com/article/2012/07/22/kuwait-nig-sukuk-idINL6E8IM1YI20120722

 

Leave a Reply

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!