Abo Moati Stationery renews SAR 35 mln facility with Riyad Bank

20/12/2017 Argaam

 

Abdullah Saad Mohammed Abo Moati Stationeries Co. has renewed a Shariah-compliant facility worth SAR 34.61 million with Riyad Bank, the company said in a statement to Tadawul on Wednesday.

 

The facility, which was extended until July 5, 2020, will be used to finance the company’s working capital requirements. It is guaranteed by a promissory note.

 

There were no related parties involved, the statement added. 

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