Mubasher: Al Imtiaz Investment Group announced signing a credit facilities agreement valued at KWD 21.5 million ($71 million) with a local Kuwaiti bank.
The agreement has a duration of seven years, according to a bourse filing on Tuesday.
Al Imtiaz noted that the credit facilities will be used in expanding the company’s projects.
It added that the company will afford the financing costs during the contract’s duration. The costs will be paid each three months starting from the date of signing the credit facilities agreement.
At the stock level, Al Imtiaz closed Tuesday’s session at 131 fils after 1.61 million shares were traded.
