Mubasher: Equipment Holding announced that its 99%-owned subsidiary Equipment Co WLL has reached an agreement to reschedule a loan due to Qatar National Bank (QNB), according to a bourse statement on Sunday.

The old rescheduling of the loan covered KWD 8 million ($26.5 million) out of the loan’s total value, part of this amount was repaid before the new rescheduling of KWD 4.81 million.

The installments of this loan will be fully repaid with interest on 31 July 2020 to QNB

Rescheduling this loan will improve Equipment’s financial position.

At the stock level, Equipment closed Sunday’s session 1.06% lower at 28.1 fils.