Kuwait-listed Agility Public Warehousing Company has successfully refinanced a portion of its existing credit facilities, raising the amount from $233 million to $280 million. The company announced on Monday that this refinancing comes with a renewed tenure of five years.

The move to refinance is part of Agility’s strategy to support growth and manage its debt effectively. In January 2023, the company had secured a KD 50 million credit facility from a local bank as part of its ongoing refinancing efforts. This indicates Agility’s proactive approach to maintaining financial stability and fostering expansion in its operations.

According to the company, these financial maneuvers are essential for sustaining its business growth and enhancing its operational capabilities within the competitive logistics sector. The increased refinancing illustrates Agility’s commitment to improving its financial health while navigating the complexities of the supply chain industry.