#Kuwait's Equate amends terms of $2.9bln in bank debt | ZAWYA MENA Edition

Kuwait's Equate amends terms of $2.9bln in bank debt | ZAWYA MENA Edition:

Kuwait's Equate Group said on Thursday it had amended and extended $2.9 billion in bank debt split between a $1.9 billion term loan and a $1 billion revolving credit facility.

The petrochemicals producer extended by two years its term loan, to 2023 from the existing 2021 maturity, while the maturity of the revolving loan was extended to June 2022 from June 2020.

The revolving loan has two further extension options.