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Agility raises credit facility lines to $3.2bn

Agility raises credit facility lines to $3.2bn
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Mubasher: Agility Public Warehousing, listed on Dubai Financial Market (DFM) as well, has penned a financing deal with local, regional, and international banks to refinance and increase its credit facility lines to $3.20 billion (KWD 980 million) from $1.40 billion (KWD 430 million).

The facilities hold maturity periods of three, five, and six years, according to a bourse filing.

Meanwhile, Agility closed new facility agreements worth $700 million (KWD 215 million) on 24 July 2022, planning to sign more financing transactions in the coming period.

Through these credit lines, the company would support its growth plans, including a long-term financing to acquire London Stock Exchange-listed John Menzies.

Last February, Agility’s subsidiary unveiled its intention to own a 13.20% stake in John Menzies at a value of GBP 73.40 million (KWD 30 million).