Mubasher: Livestock Transport and Trading on Thursday announced the partial repayment of a loan provided by the Industrial Bank of Kuwait (IBK).
The Kuwaiti firm repaid KWD 10.6 million ($34.81 million) and reduced the loan value to KWD 9.62 million ($31.59 million), according to a statement to Boursa Kuwait.
Consequently, the total value of assets and liabilities fell by KWD 10.6 million and the loan will have a normal fixed interest of 3.5% per year.
In July 2016, Livestock Transport and Trading signed a credit facility agreement worth KWD 28 million with the Industrial Bank of Kuwait.
For the full-year 2018, the Kuwaiti firm reported a loss of KWD 3.55 million, versus KWD 2.6 million in profits in the prior year.
