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Agility inks a new credit facility agreement: ADX-listed global logistics provider and Kuwait’s Agility subsidiary Agility Global has inked a USD 1.4 bn credit facility agreement with several unnamed regional and global banks, according to disclosure (pdf) on ADX. The facility consists of a EUR 1 bn tranche and a USD 370 bn tranche, and has three- and five-year maturities.
Where will the money go? The credit facility will be utilized to fund current operations, settle outstanding liabilities, including inter-company balances, as well as further support the firm’s future growth.
The company will also enter into several uncommitted credit lines with banks as part of a refinancing strategy that could also see it issue trade guarantees, implement foreign exchange and interest rate hedging strategies, as well as other money management operations, including short-term overdrafts.
REMEMBER- Agility — which owns Dubai-based energy logistics firm Tristar — listed its operations and assets management unit, Agility Global, on the ADX in a technical listing back in May.
