Riyadh – Mubasher: Al Kathiri Holding Company on Sunday announced that it has signed a SAR 6.521 million shariah-compliant credit facility with Riyad bank.
The loan will be matured on12 June 2021, according to a filing to the Saudi Stock Exchange (Tadawul).
The Saudi-based company will use the loan to finance its working capital and meet other business requirements.
The credit facility is secured by a promissory note, equivalent to loan value, in favor of the Saudi lender, the statement pointed out.
The firm noted that no related parties are included in this agreement.
For the first nine months of 2018, Al Kathiri Holding’s profits hiked 54.6% to SAR 7.93 million, from SAR 5.13 million in the same period of the prior year.
