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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