SAIC renews SAR 100M credit facility with Al Rajhi Capital

14/07/2024 Argaam
Logo ofSaudi Advanced Industries Co. (SAIC)

Logo of Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co. (SAIC) renewed on July 11 a Shariah-compliant credit facility with Al Rajhi Capital at a total of SAR 100 million.

 

The facility has a term of one year, SAIC said in a statement to Tadawul. It was obtained by SAIC against a pledge of some investment portfolio assets equivalent to the value of the credit facilities.

 

For more news on listed companies

 

SAIC aims to finance investment expansions, the statement added.

 

There are no related parties to the contract.

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