Academy of Learning early repays SAR 22 mln loan

16/08/2023 Argaam

Academy of Learning early repays SAR 22 mln loan

Logo of Academy of Learning Co. (AOL)

Academy of Learning (AOL) made an early repayment on Aug. 15 of a SAR 22 million short-term loan.

 

The move reflects the company’s keenness to optimize its available cash to achieve financial efficiency and reduce financing costs, the company said in a statement to Tadawul.

 

The strength of the company's financial position and its distinguished cash flows enhanced its ability to repay the loan before the due date without any risk to AOL’s financial ability or any impact on its firm approach towards suppliers and future cash dividends, AOL added.

 

In July, AOL signed a three-month Shariah-compliant credit facility agreement for SAR 22 million with Riyad Bank, Argaam earlier reported.

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