AOL secures SAR 14.5M credit facility with Riyad Bank

15/07/2024 Argaam

AOL secures SAR 14.5M credit facility with Riyad Bank

Logo of Academy of Learning Co. (AOL)

Academy of Learning Co. (AOL) obtained today, July 15, a Shariah-compliant credit facility from Riyad Bank for a total amount of SAR 14.5 million, according to a statement to Tadawul.

 

The financing has a term of four years and is covered by a guarantee under a fine and solidarity bond approval from the Chairman of the board of directors and a promissory note submitted by the company to the bank, the statement added.

 

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The amount is intended to finance future expansions.

 

There are no related parties in the agreement, the statement said.

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