Agility Global PLC announced that its subsidiary, Tristar, has signed a new credit facility with a group of regional and international banks worth USD 770 million to refinance its existing credit facilities.
According to the company, Tristar also expects to sign an additional Sharia-compliant financing transaction worth USD 30 million, bringing the total financing package to approximately USD 800 million.
Key highlights:
• New credit facility worth USD 770 million secured by Tristar
• Additional USD 30 million Sharia-compliant financing expected
• Total financing package could reach USD 800 million
• Facility term of 5 years
• Includes two extension options
• Potential upsizing of an additional USD 50 million within 3 months
The company stated that the financing will primarily be used to refinance existing credit facilities. In addition, proceeds may also be used for general corporate purposes.
Agility Global noted that the facility has a five-year tenor and includes two extension options, providing Tristar with additional financial flexibility to support its operations and future growth initiatives.
The company also indicated that Tristar may increase the size of the facility by a further USD 50 million within the next three months.
Tristar is a subsidiary of Agility Global and operates across fuel logistics, energy logistics and transportation services, serving customers across multiple international markets.
Source: Abu Dhabi Securities Exchange (ADX) Disclosure / Agility Global PLC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.