Mubasher: Noor Financial Investment has signed a settlement agreement with two out of four creditor banks for repaying its debt.

The Boursa Kuwait-listed company has repaid a first debt installment valued at KWD 18.786 million ($62 million), according to a bourse statement on Wednesday.

The second and last debt installment is worth KWD 30.732 million ($101.4 million) and will be repaid on 31 December 2018.

Noor noted that it is currently in negotiations with the two other banks to settle its debt with them.