Mubasher: National Investments Company (NIC) signed a loan agreement worth KWD 13 million ($43 million) with a national bank, the investment management firm said in a bourse statement.

The tenor of the loan, which will be used for investment purposes, is five years, NIC said in a disclosure to Boursa Kuwait.

The agreement will result in a non-material increase of KWD 481,000 in interest costs for the company.