Agility signs $235m 3-year loan with five banks
DUBAI, January 15, 2016
Kuwait's Agility, the largest logistics firm in the Gulf, has signed an agreement for a $235 million loan with five banks, sources familiar with the matter said on Thursday.
The facility, structured as a revolving credit facility, has a term of three years and was provided by National Bank of Abu Dhabi, HSBC, Natixis, Santander and Standard Chartered, two sources with knowledge of the deal said.
Agility did not respond to an emailed request for comment. The sources spoke on condition of anonymity as the information isn't public.
The company is focusing on diversifying its business across emerging markets as low oil prices risk delaying some projects in the Middle East, its chief executive told Reuters in November.
Agility is present in around 100 countries and plans further expansion in southeast Asia, Gulf countries and Africa. - Reuters
