Tihama renews, amends SAR 20 mln credit facility with SNB

01/11/2021 Argaam

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. announced today, Nov. 1, the renewal of Sharia-compliant credit facilities agreement with Saudi National Bank (SNB), with a value of SAR 20 million as a general limit that can be used for several sub-limits.

 

The financing period is one year, Tihama said in a bourse filing, indicating its aim is to restructure the financial obligations and provide non-cash facilities to the company (guarantees and credits).

 

The facility term is guaranteed by a promissory note of SAR 22 million, in addition to pledging a deposit of the facilities’ value in favor of the bank.

 

There are no related parties to the agreement, the statement added.

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