Agility restructures debt + renews tenor: Kuwait’s Agility Public Warehousing Company has refinanced a segment of its existing credit facilities, incurring an additional USD 47 mn to bring the total borrowed value to USD 280 mn, according to a disclosure (pdf). The logistics player has also arranged to renew the facility’s tenor by five years.

Debt-full: As part of its ongoing refinancing program that began in 2022, the company enteredinto an agreement with regional and international banks to refinance and raise credit facilities to USD 3.2 bn (KWD 980 mn at the time). Agility secured a USD 75 mn facility — its latest facility in the program — from an unnamed regional bank in March 2023, bringing its total borrowings at the time to about USD 3.1 bn (KD 938 mn).

MORE DEBT WATCH UPDATES-

IFC + Kazyon expand partnership: The World Bank’s International Finance Corporation (IFC) is expanding its partnership with Egyptian budget supermarket chain Kazyon through a USD 30 mn loan to support its Morocco discount retail operations expansion, according to a statement. The money will be used to increase the company's warehousing and storage capacity, as well as add more retail stores in Morocco.

This has been in the works: Kazyon was in line for a USD 30 mn loan from the IFC to fund the company’s expansion agenda in Morocco, the lender said in a project summary back in November 2024. Kazyon Morocco CEO told Asharq Business back in October 2024 that the company is investing USD 144 mn to expand in the Moroccan market — particularly in major cities — over the coming four years.

The supermarket chain also first tapped into the Saudi market earlier in February, with its 50% stake purchase in Saudi Arabia’s sole discount retailer Dukan in a SAR 250 mn (c. USD 66.7 mn) transaction.

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