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IIG of Kuwait defaults on sukuk payment

 
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Kirk
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PostPosted: Tue Jul 27, 2010 7:07 am    Post subject: IIG of Kuwait defaults on sukuk payment Reply with quote

Kuwaiti investment firm, International Investment Group (IIG), has said it is unable to pay $152.5m to sukuk holders who demanded immediate repayment after the company defaulted on its $200m Islamic bond, Bloomberg has reported. In April, IIG became the second Kuwait-based firm in a year to miss a sukuk payment.
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