Ataa renews SAR 510.5M credit facilities with SAIB

09/09/2024 Argaam
Logo ofAtaa Educational Co.

Logo of Ataa Educational Co.

Ataa Educational Co. renewed today, Sept. 9, a SAR 510.5 million Shariah-compliant credit facilities agreement with The Saudi Investment Bank (SAIB).

 

The 10-year facility is guaranteed by a promissory note to the bank, according to a statement to Tadawul.

 

For more news on listed companies

 

The funds will be used for acquiring and building educational complexes and supporting working capital, the statement added.

 

There are no related parties involved in the agreement.

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