Mubasher: The National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) have signed a credit facility agreement worth KWD 1 billion with Kuwait Petroleum Corporation (KPC) to fund the KPC's capital expenditure.

Under the agreement, the KFH is in charge of the Islamic tranche worth KWD 400 million and its syndication and the Islamic investment agent, according to the disclosures of KFH and NBK to Boursa Kuwait on Sunday.

Meanwhile, the KFH will contribute KWD 304 million in financing.

Meanwhile, the NBK is the Initial Mandated Lead Arranger, Conventional Facility Agent, and Facility Global Agent; hence, the NBK's share in the financing is KWD 370 million.

The finance to KPC will have no financial impact on the financial position of the NBK and KFH since it is their regular business activities.

Moreover, Boubyan Bank and Al Ahli Bank of Kuwait have contributed KWD 60 million each to the KWD 1 billion credit facility agreement arranged by the NBK and KFH.