Raydan Restaurants obtains final payment from ORIX

19/05/2019 Argaam

 

Raydan Restaurants and Cuisines Co. has received SAR 16.175 million from Saudi ORIX Co. representing the second and final part of the capital lease agreed upon with ORIX, the Nomu-listed firm said in a bourse statement.

 

The credit will have a positive impact on continuing the opening of new branches, the statement added.

 

In May 2018, the company signed a final agreement with Saudi ORIX Co. to obtain an Islamic capital lease covered by a promissory note and a real estate mortgage valued at SAR 18.92 million including interest, according to data compiled by Argaam.

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