Abu Dhabi Listed Agility Global Unit Signs $255mln Credit Facility

Tristar, a unit of the Abu Dhabi listed Agility Global, has signed a $255 million new credit facility with several regional and international banks for refinancing and general corporate purposes.

The term of the facility is 18 months with an extension option.

Additionally, Agility Global has said it is anticipated that Tristar will upsize this amount up to an additional $60 million within three months.

Agility Global, which is 51% owned by the Kuwait logistics giant Agility Public Warehousing Co., announced last September it was soliciting interest for the sale of a stake in its fuel logistics subsidiary Tristar.

Tristar offers fuel logistics services to blue chip companies including ADNOC, Saudi Aramco, BP, ENOC and Exxon Mobil and Shell.