Osool & Bakheet amends BSF credit facility to Shariah-compliant

15/01/2024 Argaam

Osool & Bakheet amends BSF credit facility to Shariah-compliant

Logo of Osool & Bakheet Investment Co.

Osool & Bakheet Investment Co. signed on Jan. 14 an agreement with Banque Saudi Fransi (BSF) to amend an existing credit facility to Shariah-compliant financing agreement.

 

Osool & Bakheet obtained the SAR 50 million facility on Jan. 1, for a duration of 180 days.

 

It is guaranteed by a promissory note, the investment firm said in a statement to Tadawul. 

 

The credit facility is targeted to finance the company's current and future operations, support its working capital, and issue Islamic payment guarantee letters.

 

There are no related parties to the deal, the statement said, adding that there are no outstanding obligations or amounts based on the facilities agreement or financing agreement.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read