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Forbes listed Maha Al Ghunaim as the 89th most powerful woman in business last year but 2009 has been a tough year for the Kuwaiti national who founded Global Investment House back in 1998.
In the wake of the global economic downturn, Al Ghunaim took her investment bank public on the London Stock Exchange in May last year. She raised $1bn, making Global the largest non-government owned investment bank in the Middle East.
In January, Global defaulted on most of its debt and in April it reported its first ever loss.
In November, the Kuwait-based bank said it would provide its bondholders with security and assured investors that it would not extend the maturity of three of its outstanding bonds, worth around $403.1m.
"The company plans to settle the bonds as they mature in 2009, 2012 and 2013. Therefore, no extension was sought to the bonds' maturity," the company said a statement.
In the wake of the global economic downturn, Al Ghunaim took her investment bank public on the London Stock Exchange in May last year. She raised $1bn, making Global the largest non-government owned investment bank in the Middle East.
In January, Global defaulted on most of its debt and in April it reported its first ever loss.
In November, the Kuwait-based bank said it would provide its bondholders with security and assured investors that it would not extend the maturity of three of its outstanding bonds, worth around $403.1m.
"The company plans to settle the bonds as they mature in 2009, 2012 and 2013. Therefore, no extension was sought to the bonds' maturity," the company said a statement.
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