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The Kuwait-listed Aayan Leasing and Investment Company has secured a 35 million dinars ($113.5 million) loan.
The agreement, made with an undisclosed banking institution, will lead to an increase in Islamic finance payable under the company’s liabilities once the drawdown of the funds is executed, Aayan said in a bourse filing.
This is the company’s second loan facility in a week. On April 16, Aayan also took out a credit facility for KD 40 million ($130 million) as part of a “strategic financial expansion” plan after receiving approval from Kuwait’s Competition Protection Agency to acquire a stake in the country’s Dar Al-Shifa Hospital.
(Writing by Bindu Rai, editing by Seban Scaria)
