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Agility gets $500m loan to support expansion

By Pramod Kumar
Agility's three-year credit facility was secured from a regional bank, the company told Abu Dhabi Securities Exchange Agility Global
Agility's three-year credit facility was secured from a regional bank, the company told Abu Dhabi Securities Exchange

Logistics company Agility Global has secured a $500 million loan to support its ongoing operations and expansion plans.

The three-year facility, with specific extension options, was secured from a regional bank, the company said in a statement to the Abu Dhabi Securities Exchange.

The name of the lender was not disclosed.

In March, Agility said its net debt (excluding lease liabilities) stood at $2.5 billion, as it spent $197 million in net capex and investments last year.

Full-year earnings surged 152 percent to $128 million last year from $50 million the previous year. The top line increased 15 percent year on year to $4.5 billion.

Its business segments include aviation services company Menzies Aviation, Dubai-based energy logistics company Tristar and logistics parks.

Kuwait-listed Agility Public Warehousing Company owns 51 percent of Agility Global.

The company’s stock closed at AED1.23 on Monday, up 1 percent from a year ago.

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