Saudi's Algosaibi says creditors to get min 20 cents on dollar under debt plan

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Saudi Arabian family conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) said on Wednesday it had proposed a debt restructuring plan to creditors that would see them repaid a minimum of 20 cents on every dollar owed. AHAB said in a statement that, under the proposal unveiled at a creditor meeting in Dubai, the firm would pay 10 percent of claims as an upfront payment and would target a total recovery for creditors of between 40 and 60 percent of their due cash.

أكثر... (https://en-maktoob.news.yahoo.com/saudis-algosaibi-says-creditors-min-20-cents-dollar-112533202.html)