Al Khodari secures SAR 135 mln credit from majority shareholder

31/12/2015 Argaam

Abdullah A. M. Al-Khodari Sons Co. signed a SAR 135 million Islamic credit agreement with its majority shareholder, Abdullah A. M. Al-Khodari Sons Investment Holding Co. (related party) on Dec. 30, the company said in a statement to the Saudi bourse, Tadawul.

 

The amount will go towards funding the working capital and capex requirements of the company.

 

The credit is covered by a promissory note and is to be repaid free of financial charges or commission within three years, the company added.

 

Earlier this month, the construction contractor decided to shelve a capital-increase proposal citing present market conditions.

 

It later renewed a SAR 274.01 million Islamic credit facility with Al-Bilad Bank, which it said would go towards working capital and capex requirements.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
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.

Most Read