Mubasher: Oula Fuel Marketing announced that it has signed two contracts valued at KWD 6 million ($19.9 million) to obtain a murabaha loan from KIB, according to a bourse disclosure on Wednesday.
The first loan has a value of KWD 4 million, while the second credit facility deal totals KWD 2 million.
Oula Fuel clarified that the loan will have no financial impact on the company’s financial position in the current time.
It added that the impact of the loan will be registered in the income statements based on the used amounts during the contracts’ duration.
At the stock level, Oula Fuel closed Wednesday’s session 0.83% lower at 119 fils.
