Friday 22 June 2018

UGB repays $115m loan facility

Kuwait, June 22, 2011

United Gulf Bank (UGB), the asset management and investment banking arm of Kipco Group, has announced the full repayment of its three-year $115 million syndicated loan facility which matured on June 16.

"Considering the current difficult operating environment, our ability to repay our three-year loan on time is a measure of UGB's prudent and proactive liquidity planning," said Masaud Hayat, chairman of the Kuwait-based bank.

"The repayment also demonstrates the strength of our financial position and the progress we are making within our core asset management and investment banking business," Hayat added.

Tags: Kuwait | loan | Kipco | United Gulf Bank |

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