Arab Finance: E-commerce platform specializing in used cars, Cylinder, has obtained a credit facility worth 370 million pounds to increase its working capital from a group of lenders, investment bank EFG Hermes – the sole financial advisor for the deal – announced in statement Journalist.
The deal was designed to set new standards for capital financing according to a solid legal and financial framework in line with Cylinder’s future growth plans on the one hand, and to serve as a reference for new lenders wishing to expand credit facilities on the other hand,” according to the statement.
Cylinder will benefit from the financing to enhance its ambitious growth strategy, improve operational efficiency and expansion potential, provide a diverse range of cars for sale and car purchase offers, in addition to enhancing customer experience and diversifying its financing sources.
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