Saudi Parts Center signs SAR 30M credit facilities with SAIB

Logo of Saudi Parts Center Co. (SPC)

Saudi Parts Center Co. (SPC) signed today, July 24, a Shariah-compliant credit facilities agreement worth SAR 30 million with The Saudi Investment Bank (SAIB).

 

The financing period will run from July 24, 2024, to April 30, 2025, and will be covered by a promissory note, the company said in a statement on Tadawul.

 

For more news on listed companies

 

The facility aims to support the import/purchase of materials and fund working capital requirements.

 

There are no related parties involved, SPC added.

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