UAE- Caterpillar dealer Unatrac takes USD700m loan| MENAFN.COM

Monday, 08 August 2022 05:00 GMT

UAE- Caterpillar dealer Unatrac takes USD700m loan


(MENAFN) Unatrac Holding's group corporate treasurer, Nader Aboushadi, stated that the caterpillar equipment dealer signed a USD700 million loan agreement to fund operations, reported Arabian Business. Aboushadi also said that the three-year loan will also be used to refinance the company's existing debt. The treasurer added that the UAE-based firm increased the size of the revolving credit facility from USD600 million after pledges from lenders. It is worth noting that Unatrac, a part of Egyptian conglomerate Mansour Group, has operations in Russia, Ghana, Nigeria, Kenya, Tanzania, Uganda, Iraq and Sierra Leone.


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