Agility Public Warehousing Company, listed on the Kuwait and Dubai stock exchanges, announced the closing of new credit facilities worth $700 million, equivalent to 215 million Kuwaiti dinars.
The company said in a statement to the Kuwait Stock Exchange today, Sunday, that the purpose of these facilities is to finance its growth plans, including long-term financing for the acquisition of John Menzies Company, indicating that these amounts will be reflected in the financial statements when used.
The company expected to close more facilities in the coming weeks, with the aim of refinancing and increasing the lines of credit facilities from $1.4 billion, to reach about $3.2 billion with existing and new local, regional and international banks, with maturities of 3, 5 and 6 years.
Agility clarified that the amounts referred to above will be reflected in the company's financial statements when used.
