Al-Hokair secures SAR 1bn Islamic credit with a group of banks

05/06/2014 Argaam

Fawaz Abdul-Aziz Al-Hokair Group signed SAR 1bn Islamic credit agreement on June 4th, 2014.

The agreement has a term of 7 years, till June 2021, and the amount is to be repaid on semiannual installments after a grace period of 18 months from the signing date; the company said in its filing to Tadawul today.

The credit is secured by a promissory note and was granted by Samba Financial Group as an investment agent, Gulf International Bank, NCB, Arab Bank –Bahrain-, Saudi Hollandi Bank and Kuwait National Bank –Jeddah’s branch.

This credit aims at financing outstanding loans and financing the company’s purposes in general including its future expansion plan.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.