Mubasher: Agility Global’s subsidiary has signed a credit facility agreement with a number of regional and international banks for a total amount estimated at $1.40 billion.
The financing includes EUR 1 billion and $370 million, according to a bourse disclosure.
This new credit facility will be used to fund ongoing operations and future growth as well as settling outstanding liabilities including inter-company balances.
Meanwhile, the deal holds maturities of three years and five years from signing.
As part of the refinancing, Agility Global and its subsidiaries will enter into various uncommitted credit lines with relationship banks.
This can include issuing trade guarantees, executing foreign exchange and interest hedging as well as other cash management-related lines, such as short-term overdrafts.
Earlier this month, Riyadh Development Company and Agility Logistics Parks (ALP), owned by Agility Global penned a SAR 227 million partnership agreement.
