Saad Group plans debt restructuring
15:56, 2 June 2009
DAMMAM. June 2. KAZINFORM Saad Group announced yesterday its plan to restructure the debt of subsidiaries affected by the global financial crisis; Kazinform refers to the Arab News.
?Recent external events (and) more recent events, specifically affecting the Bahraini banking sector, have led to a short-term liquidity squeeze affecting Saad Group companies in the Middle East,? it said in a statement.
?We are continuously striving to mitigate the effects of this limited squeeze, and are also planning for an orderly restructuring of the debt of affected companies in cooperation with our counterparties and international advisers,? it added; Kazinform cites the Arab News.
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