SHL Finance obtains SAR 312M credit facility from Bank Albilad

16/07/2024 Argaam

SHL Finance obtains SAR 312M credit facility from Bank Albilad

Logo of SHL Finance Co.

SHL Finance Co. secured today, July 16, a Sharia-compliant credit facility of SAR 311.9 million from Bank Albilad, according to a statement to Tadawul.

 

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The credit facility will extend until May 21, 2025, and is guaranteed by a promissory note, in addition to waiving accounts receivable.

 

The facility will boost the company's sales volumes through the new loans arranged for customers, aligning with its strategy and future plans.

 

There are no related parties, the statement said. The deal is within the normal course of business, without any preferential terms.

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