Ladun Investment gets SAR 100 mln financing from Bank Albilad

24/07/2022 Argaam

Logo of Ladun Investment Co.

Ladun Investment Co. announced receiving, on July 21, financing worth SAR 100 million from Bank Albilad, according to a bourse statement.

 

The loan includes a forward sale credit limit worth SAR 50 million and a letter of guarantee limit of SAR 50 million.

 

Its forward sale credit limit is valid for one year, with a maximum of 36 months for the letter of guarantee limit.

 

The financing is guaranteed by Ishar Investment Co. and assignment of project proceeds to Bank Albilad.

 

The forward sale credit limit aims to finance operations, while the letter of guarantee is to bid for either government or private projects.

 

Ishar Investment is a related party for being a major shareholder of Ladun.

 

The deal allows Ladun's subsidiaries to utilize the approved limits with a prior consent from the bank.

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