Al-Ahsaa clears SAR 72.47 mln debt to Saudi Development Fund

01/09/2014 ِِArgaam

Al-Ahsaa Development Company said today it settled the last tranche of its SAR 72.47 million loan borrowed from the Saudi Industrial Development Fund.

The last tranche was SAR 63.71 million, and by settling the sum, the company retains its rights over the assets of its textile company which were used as collaterals, a filing to Tadawul said.

Al-Ahsaa’s consolidated financial statements would not contain any industrial or commercial loans or assets set aside as collaterals as of the third quarter of 2014, the company added.

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