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Article: NBK in $279m loan deal with Kipco.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- October 28, 2009
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Byline: Kuwait
National Bank of Kuwait (NBK) has signed a loan agreement with Kuwait Projects Company (Kipco), a top holding company, whereby the latter gets a KD80 million ($ 279 million) for a period of five years to finance company projects.
"The new loan facility reflects Kipco's standing within the financial community, and this five year-loan facility with NBK is part of the long-term relationship between the two institutions," said Faisal Al Ayyar, vice chairman of Kipco.
"The relationship is founded upon mutual appreciation and respect; we have always been impressed by NBK's level of professionalism and commitment," he added.
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