Kuwait-listed National Investments Company said its subsidiary has secured a new credit facility worth nearly $10 million.

The deal for up to KWD 3 million ($9.8 million) financing was secured with "one of the local banks", the investment and asset management company confirmed.

The fresh funds will be used to finance the subsidiary's operations. National Investments did not disclose the name of the unit and the Kuwaiti bank.

National Investments provides services such as wealth management, investment banking, real estate and brokerage.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com