Logo of Pan Gulf Holding Co.
Pan Gulf Marketing Co. obtained on May 29 Shariah-compliant credit facilities, amounting to SAR 70 million, from Saudi Awwal Bank (SAB).
In a statement to Tadawul, the company said the one-year financing is to issue all types of government and non-government guarantees, and letters of credit, as well as to finance the working capital.
Pan Gulf provided a promissory note and corporate guarantees for the financing.
There are no related parties to the deal, the statement added.
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