One of the biggest Gulf logistics companies, Agility of Kuwait, said on Sunday that it has inked a new 1.4 billion euro credit facility.

According to the statement, the transaction is a part of a funding round with a projected value of $3.2 billion. The business said that the funds would be used to support its expansion goals, including financing the purchase of British aviation services provider John Menzies.

Agility did not disclose the source of the credit facility.

Agility said on Thursday it had finalised its 763 million-pound ($924.37 million) acquisition of John Menzies, which it said would be combined with National Aviation Services (NAS).

The acquisition valued John Menzies at approximately 571 million pounds on a fully diluted basis and about 763 million pounds on an enterprise value basis, it said at the time.