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Saad picks adviser on $6bn debt talksSaudi Arabia's Saad Group has embarked on the complex restructuring of its $6 billion debts, with Abu Dhabi Commercial Bank one of the most highly exposed to the troubled company. Saad has put forward Credit Suisse as an adviser to its ban More… |
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Dozens of banks exposed to Saad GroupDozens of banks have arranged $6.3 billion worth of syndicated loans to Saudi-Arabia's Saad Group and the Algosaibi family, Reuters LPC data shows, but it is not clear how much remains on their books. Lenders include Citigroup, BNP Paribas More… |
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Saad, AHAB to seek $10bn debt restructuringTroubled Saudi conglomerates Saad Group and Ahmad Hamad al-Gosaibi & Bros Co (AHAB) will meet creditors this month to restructure $10 billion of debt, a Saudi newspaper reported on Tuesday, citing unnamed bankers. Al-Hayat newspaper sa More… |
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BankMuscat 'least exposed to Saad, Gosaibi'Oman's central bank chief raised the spectre of Gulf banks having to take provisions on two troubled Saudi firms, saying BankMuscat was likely less exposed than other banks. BankMuscat, Oman's largest lender, said on June 11 its exposure t More… |
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Saudi, Gosaibi impact on Gulf widensThe impact of troubled Saudi groups Saad and Al Gosaibi widened with the first bank detailing its exposure while Al Gosaibi said it had discovered evidence of 'substantial financial irregularities.' Bank Muscat, Oman's largest More… |
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Al-Gosaibi finds irregularities in finance unitSaudi privately-owned Ahmad Hamad Al-Gosaibi & Brothers Company (AHAB) on Thursday said it had discovered evidence of substantial financial irregularities within its financial services arm. "While this review is in its early stages, th More… |
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BankMuscat has $171m exposure to Saad, AHABBankMuscat said on Thursday its exposure to troubled Saudi businesses Saad Group and Ahmad Hamadt Al Gosaibi Group & Brothers (AHAB) totals 66 million rials ($171.4 million). "Bank Muscat has direct exposure to these groups amounting t More… |
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Bank Muscat 'faces provisions on Saad'Oman's Bank Muscat is likely to book provisions during the second quarter on its exposure to troubled Saudi groups Saad and Al-Gosaibi, an analyst said on Wednesday. A spokesman for Bank Muscat declined to comment. The note by Sunil Dhall, More… |
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KFH exposure to Saad 'minimal'Kuwait Finance House, the country's biggest Islamic lender, has minimal exposure to two companies that are restructuring their debts, a senior official said. Emad Yousef Al-Monayea, managing director of Liquidity House, a unit of KFH, was More… |
