Al-Khodari reschedules SAR 135 mln Islamic loan

03/03/2019 Argaam

 

Abdullah A. M. Al-Khodari Sons Co. signed on Feb. 28 an agreement with majority shareholder, Abdullah A. Al Khodari Sons Investment Holding Co. to reschedule an Islamic loan worth SAR 135 million.

 

The new repayment term is 6 months, the company said today in a statement to Tadawul.

 

The original tenor was three years, which was extended in January by 60 days.

 

The credit, which was restructured to support the company’s cash flows, is covered by the original promissory note.

 

Al-Khodari signed on Dec. 30, 2015 a SAR 135 million Islamic credit agreement with Abdullah A. M. Al-Khodari Sons Investment Holding Company, Argaam reported.

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