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.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.