Agility Global locks in USD 560 mn credit facility, DP World secures Bangladesh concession agreement, PVP backs COFE Tech

Agility Global secures USD 560 mn facility

ADX-listed logistics firm Agility Global secured EUR 500 mn (c. USD 560 mn) credit facility from international lenders, according to a disclosure (pdf). The proceeds will go towards its ongoing financing requirements, and is set to mature in one year, with certain extension options in place.

The logistics player was tight-lipped on the specifics, and did not disclose the specific banks involved in the arrangement or the interest rates for the paper. The move comes after Agility posted strong 1H results as net income jumped 30% y-o-y on revenues of around USD 3 bn, up 25% y-o-y.

DP World gets 15-year Bangladesh port concession

DP World has inked a 15-year concession pact with Bangladesh’s Chittagong Port Authority to operate and maintain the newly built New Morning Container Terminal and an adjoining container yard, as per a press release. The terminal will remain state-owned while DP World does the heavy lifting — upgrading civil infrastructure, deploying digital logistics solutions, and managing daily terminal operations.

ICYMI- Last year UAE maritime players were in talks for possible investments in Bangladeshi ports, including Chittagong. At the time, options included acquiring and managing operations for a major port. DP World was previously reported to be considering investing in a new terminal at Chittagong.

But for now, Bangladesh just wants less friction: Chittagong is Bangladesh’s economic lifeline, but chronic congestion routinely slows down the country's exports. DP World will link the terminal to its wider network of ports, logistics infrastructure and supply-chain services.

PVP puts pre-IPO money into COFE Tech

Abu Dhabi-based Phoenix Venture Partners (PVP) has invested in Kuwait-founded COFE District (COFE Tech), backing the intelligent procurement and commerce infrastructure provider ahead of its planned IPO, according to a press release. The investment was completed earlier this year, with PVP founder and CEO Steve Khayat joining COFE Tech’s board to represent the investor.

Brewing commerce infrastructure: The company recently closed a pre-IPO fundraising at a USD 178 mn valuation and plans to go public by 2029. Founded in 2018, COFE Tech serves more than 1k businesses across the Gulf, spanning aviation, hospitality, retail and food and beverage. Its UAE customer base includes Emirates Airlines, Etihad Airways and Al-Futtaim Group. For PVP, the investment fits its focus on early-stage tech businesses across fintech, healthtech, edtech, agrifoodtech, energy technology and sustainability.