Mubasher: Unicap Investment and Finance has signed a credit facility agreement with a local Kuwaiti bank at a maximum value of $20 million, in order to repay all loans obtained by the company and its subsidiaries.
Moreover, Unicap will direct part of the funds to real estate investments and development, according to the company’s statement to Boursa Kuwait on Monday.
The company mentioned that the loan will have a positive impact on cash flows and improving its financing structure to provide the liquidity needed to support operating activities.
It is noteworthy to mention that during the first nine months of 2019, Unicap incurred losses of KWD 1.34 million, against profits of KWD 3.47 million in the same period in 2018.
