Reference to our previous disclosures dated April 19th, 2021 regarding signing a credit facility agreement and our disclosure on March 30th, 2022 regarding Menzies cash offer, Agility would like to announce that it is refinancing and increasing its credit facility lines from $1.4 billion (around KD 430 million) up to $3.2 billion (around KD 980 million) with existing and new local, regional and international banks. The facilities have maturities of 3, 5 and 6 years.
As part of this refinance and increase, Agility has today closed a new facility of $700 million (around KD 215 million), and expects to close further facilities in the coming weeks, to give a total credit facilities of around $3.2 billion.
The purpose of these facilities is to finance the company’s growth plans including the long term financing of the John Menzies plc acquisition.
Impact on the financial position of the company : Only amounts drawn from the facility will be reflected in the company’s financials.
Best Regards,
Investor Relations Team