A consortium of top international banks, led by loan arranger Arab Bank of Jordan, has granted a US$1.35 billion syndicated loan to Kuwait¡¯s Agility, the Gulf¡¯s largest logistics provider, to help finance acquisitions.
Agility has said it wants to expand abroad to reduce its exposure to Pentagon contracts to supply US troops in Iraq and Afghanistan.
Arab bank told news agencies the loan would be used to finance an acquisition, in addition to investments and a number of mega projects Agility will implement in the field of logistics contracting, fleet management, international freight, inventory management and other solutions and value added services.
Arab Bank said its partners in arranging the loan were Commerzbank, Deutsche Bank, DBS, HSBC Middle East, BNP Paribas, WestLB, Goldman Sachs International and JP Morgan.
|
