Lana secures SAR 13M credit facility from Al Rajhi Bank

16/07/2024 Argaam

Lana secures SAR 13M credit facility from Al Rajhi Bank

Logo of Lana Medical Co. 

Lana Medical Co. obtained, on July 15, a Shariah-compliant credit facility from Al Rajhi Bank at SAR 13 million, according to a statement to Tadawul. 

 

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The facility tenor will extend for five years, the statement added. 

 

The credit facility, guaranteed by promissory notes, will go towards financing working capital requirements and purchase orders when required. 

 

The deal included no related parties, according to the statement. 

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