Kuwait – Mubasher: Awj Holding has signed a contract regarding the renewal and restructuring of the debts due to Kuwait Finance House (KFH), with a total of KWD 7.6 million ($24.9 million), according to a bourse filing issued on Thursday.

The debts repayment will be in installments over four years; the first installment is worth KWD 1.6 million that will be repaid on 28 December, 2017, while the remaining amount will be repaid as KWD 1 million every six months starting from 28 June, 2018 until 28 December, 2020.

No financial impact will be registered in the statements of 2016; however, there will be impact on the cash inflows in 2017.

On the stock level, Awj increased by 5.08% to reach 62 fils on Thursday.