Osool & Bakheet amends BSF credit facility to Shariah-compliant

15/01/2024 Argaam
Logo ofOsool Bakheet Investment Co.

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.

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