Kuwait’s Public Warehousing Company (Agility) has signed a $1.35bn short-term loan agreement with a consortium of local and international banks.
The company says it will use the funds to finance acquisitions and a major expansion of its freight and transportation services. The firm is targeting expansion in the Middle East, Africa and Eastern Europe.
Arab Bank, Commerzbank, DBS Bank, Deutsche Bank, HSBC, BNP Paribas, West LB, Goldman Sachs and JP Morgan all acted as mandated lead arrangers on the facility.
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