Beyout Holding unit signs $9.5 million credit facility with Mashreq Al Islami

Beyout Holding said its subsidiary Kuwait Resources House Company has signed a non-cash credit facility agreement with Mashreq Al Islami bank worth USD 9,500,000, equivalent to KWD 2,927,425, designated for issuing letters of guarantee for the company's contracts and backed by a joint and several guarantee from Beyout Holding. There is no financial impact at present; the effect will depend on future use of the facility.