Halwani Bros signs amendment to SAR 230.83 mln existing facility with Al Rajhi Bank

Logo of Halwani Bros. Co.

Halwani Bros. Co. signed an amendment, on Jan. 5, to the existing Sharia-compliant banking facilities agreement worth SAR 230.83 million with Al Rajhi Bank.

 

The financing value includes SAR 20.83 million medium-term financing extending to the end of March 2024 and a SAR 210 million facility to finance working capital until the end of July 2023, the company said in a statement to Tadawul. 

 

The statement noted the amended credit facilities aim to reduce the company’s finance cost. 

 

The entire credit facility is guaranteed by a promissory note.  

 

There are no related parties to the agreement, the statement said

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