Red Sea Housing renews SAR 312.4 mln credit deals with NCB

30/03/2015 Argaam

Red Sea Housing Services Co. renewed on Monday facility agreements worth SAR 312.4 million with National Commercial Bank (NCB). 

 

The facilities— secured by promissory notes— are set to mature during 2015, 2016, 2018 and 2019, the company said in a statement to the Saudi bourse.

 

They will go for financing the company’s activities, fulfilling working capital requirements, in addition to financing capex for expansion plans and operations.

 

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