2P secures SAR 235 mln credit facilities from Riyad Bank

14/03/2023 Argaam

2P secures SAR 235 mln credit facilities from Riyad Bank

Logo of Perfect Presentation for Commercial Services Co. (2P)

Perfect Presentation for Commercial Services Co. (2P) signed a Sharia-compliant credit facility agreement at a total value of SAR 235 million with Riyad Bank.

 

In a statement to Tadawul, 2P said the agreement aims to increase the credit limit for an earlier agreement.

 

The agreement is valid from March 14, 2023 to Feb. 6, 2024, with no related parties.

 

The facilities are fully secured by a promissory note, 2P added, noting that it will use the facilities to finance new projects, and issue letters of credit and guarantee.

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