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FINANCIAL NEWS
Kuwait’s NIG receives USD347.4m 3-year loan
17 Aug 2015
(MENAFN) Kuwait’s National Industries Group (NIG) has taken out a USD347.4 million three-year loan to refinance existing debts, the company and one of the arrangers said.
Lenders from Kuwait and the Gulf, in addition to international banks, participated in the transaction, which will be used to replace existing debt of the same value, NIG said in a bourse statement.
The company added that it had separately renewed a facility worth USD82.52 million with Commercial Bank of Kuwait for an additional two years.
Islamic lender Warba Bank, in a separate bourse filing, said its contribution to the three-year loan was USD46.21 million, for which Warba expects to receive USD4.95 million in revenues.
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