The loan will finance the unit's operating expenses
UNICAP
UNICAP
-0.56%
179.00
-1.00
UNICAP
BOUBYAN
BOUBYAN
-1.88%
575.00
-11.00
BOUBYAN
Mubasher: The Board of Directors of Unicap Investment and Finance has approved the First Kuwaiti Company for Educational Services, one of its subsidiaries, to sign a credit facility agreement worth KWD 2.82 million with Boubyan Bank.
The loan will support the subsidiary in financing its operating expenses amid the coronavirus (COVID-19) crisis, according to a bourse filing on Tuesday.
The deal will reflect positively on the unit’s future cash inflows and will enhance its liquidity.
Source:
Mubasher