Saudi Marketing Co. (Farm Superstores) on Wednesday renewed its SAR 124.67 million bank facilities agreement with National Bank of Kuwait (NBK), the company said in a bourse statement.
The funding period starts from Aug. 12, 2018 until May 31, 2019.
The credit is secured by a promissory note by Farm Superstores.
The amount will go towards financing capital expenditure requirements of new branches as well as the company’s working capital needs.
No related parties are involved on the deal, the statements added.
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