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FINANCIAL NEWS
Kuwait’s ALAFCO aims USD300mn loan
13 Jul 2017
(MENAFN) Kuwait’s Aviation Lease and Finance Co. (ALAFCO) asked commercial banks to submit offers for an USD300mn loan, as proclaimed banking sources familiar with the matter.
Additionally, the firm, a sharia-compliant aircraft leasing listed on the Kuwait stock exchange, specializes in aircraft operating leases, lease management and in the sale and leaseback of aircraft.
Recently, it purchased four B777-300ER planes for USD1.36bn from Kuwait Airways, which ALAFCO will lease to the carrier until 2019.
Furthermore, the company is 46 percent-owned by Kuwait Finance House, whereas Gulf Investment Corp owns a 14 percent share.
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