ALAFCO Aircraft Purchase and Lease Finance Company announced the signing of a secured syndicated financing agreement worth $75 million (23 million dinars) managed by KFH Capital.

In a statement to the Kuwait Stock Exchange, today, Sunday, ALAFCO said that the first batch of the syndicated financing is worth $40 million, explaining that the rest of the payments will be disclosed later. /p>

The agreement will affect the company's financial position by increasing assets by increasing cash and cash equivalents by $40 million (12 million dinars) in the fourth quarter of the fiscal year current, and increase the liabilities by the same amount by increasing the line owed to financial institutions.

ALAFCO had turned to a loss in the nine months ended June 30, 2021, at a value of 3.15 million dinars, compared to the profits of the same nine months last year, which amounted to 1.39 million dinars.