Kuwait: Turkish conglomerate Limak Holding has signed a syndicated credit agreement, worth Kuwait Dinar (KD) 249.2 Million, with a pair of leading local banks to partly finance the construction of a new terminal at Kuwait International Airport.
The deal was sealed Wednesday as the Chairman of Limak Holding Nihat Ozdemir, National Bank of Kuwait (NBK) Chairman Nasser Al-Sayer and Kuwait Finance
House (KFH) chief Hamad Al-Marzouq put their names on the dotted line in a ceremony attended by Turkey's ambassador to Kuwait Aisha Hilal, according to Kuwait News Agency (KUNA).
Under the agreement, NBK would be the mandated lead arranger, intercreditor agent, security agent and account bank, while KHF is the mandated lead
arranger and commodity "murabahah" investment agent, Ozdemir revealed.
Meanwhile, the two banks will provide sums of KD 124.6 million (USD 411.2 million) each to facilitate construction work on a terminal expected to handle
25 million passengers per year and accommodate all aircraft types through 51 gates and stands, he noted.
Since its inception in 1976, Limak has pursued activities in construction, tourism, infrastructure and energy investments, among others. (QNA)
