Ataa renews SAR 213.7 mln facilities with SAIB

18/05/2023 Argaam
Logo ofAtaa Educational Co.

Logo of Ataa Educational Co.

Ataa Educational Co. announced renewing and amending a Shariah-compliant banking facilities agreement worth SAR 213.74 million with The Saudi Investment Bank (SAIB).  

   

In a Tadawul statement, the company said the financing duration is 10 years, adding that a promissory note was offered as a guarantee.  

   

The facilities will be used to fund acquisitions and construction of educational complexes, as well as support working capital, letters of guarantee, and restructuring of balance sheet items.  

   

The deal does not include related parties, the company said.  

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