Mubasher: International Financial Advisors (IFA) has signed an agreement to settle part of its credit facility with a foreign bank.
IFA noted that it has settled part of a loan worth KWD 12.7 million ($42 million) as an in-kind repayment after negotiations, according to a bourse statement on Tuesday.
IFA, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that the impact of repaying part of this debt will be a decline of KWD 3.10 million in the company’s reputation files during the third quarter of 2018.
At the stock level, IFA closed Tuesday’s session 8% higher at 108 fils.
