CFC closes $50m term loan facility
Kuwait, April 25, 2011
Kuwait-based Commercial Facilities Company (CFC), a leading provider of credit facilities for consumer and commercial products, has closed a $50 million term loan facility with the Arab Banking Corporation (ABC).
The facility is for funding the company’s working capital requirements and to facilitate the growth of consumer loans business.
ABC is considered one of the main bankers of CFC given its long standing relationship with the company.
CFC’s chairman and managing director Abdallah Saud Al-Humaidhi expressed his appreciation for the continuous confidence shown by ABC towards the business of CFC and its performance.-TradeArabia News Service