Tristar, a subsidiary of Agility Global, which is listed in Abu Dhabi, has successfully secured a new credit facility worth $255 million. This funding, obtained from several regional and international banks, is intended for refinancing and general corporate purposes.

The facility has a term of 18 months and includes an option for extension. Agility Global has indicated that there are plans for Tristar to potentially increase this amount by an additional $60 million within the next three months.

Agility Global, which is 51% owned by the Kuwait-based logistics company Agility Public Warehousing Co., previously announced in September that it was seeking interest in selling a stake in its fuel logistics subsidiary, Tristar. The company provides fuel logistics services to major clients, including ADNOC, Saudi Aramco, BP, ENOC, Exxon Mobil, and Shell.