Kuwait's Aayan seeks rescheduling of $586.7 mln debt

April 6, 2015 3:06 PM

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April 6 (Reuters) - Kuwait investment firm Aayan Leasing and Investment has asked creditors to reschedule its remaining debts worth 176 million dinars ($587 million), the chairman told reporters on Monday.

Like many investment companies in the Gulf Arab state, Aayan was hit hard by 2008 global financial crisis which cut access to funding markets and meant short-term debt used during the boom times to acquire assets such as real estate, private equity and shares could not be refinanced.

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