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Thu 28 May 2015 02:29 PM

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Kuwait's Agility gets approval to issue long term bonds

Chief executive quoted as Agility plans to invest $1 billion into the Egyptian market

Kuwait's Agility gets approval to issue long term bonds

Kuwait-listed logistics company Agility on Thursday said shareholders approved all items on its agenda at its annual general meeting, including plans for issuing long term bonds.

Under the agenda, shareholders were asked to approve issuing long term bonds denominated in Kuwaiti dinars or any other currency, with the board of directors determining "the type and duration of the bonds, and the nominal value and interest rate".

Agility on Thursday did not reveal details of any planned bond issues in its bourse filing announcing the results of the meeting.

The chief executive of the Kuwaiti firm was also quoted by local media as saying it planned to invest $1 billion into the Egyptian market, in particular relating to the new Suez Canal project.

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