Riyadh-Mubasher: Aseer Trading said its subsidiary Al-Rabie Saudi Foods Co. signed on Sunday a Murabaha facility agreement worth SAR 400 million with the Saudi British Bank (SABB).
The company will inject SAR 200 million each in financing its working capital requirements and capital expenditures to upgrade production lines.
The working capital cycle will extend from the agreement date until 31 January 2017, and will be automatically renewable.
Meanwhile, the CAPEX financing will extend for six years, including a grace period of 12 months starting from the first withdrawal date.
The CAPEX loan will be paid off in five years, with the first installment payable at the end of the 15th month following the first withdrawal.
