Riyadh-Mubasher: Tihama Advertising and Public Relations Co. completed on Tuesday the procedures of early repaying a loan worth SAR 10.5 million for Murabaha Investment and Installment, which is due on 30 November 2016, the company said in a bourse statement.
The company also paid back a loan worth SAR 3.1 million signed with Murabaha on 12 December 2013, from the proceeds of selling a land plot in Jeddah.
The early repayment aims to roll over outstanding loans, easing financing burdens, lowering financing costs and generating SAR 117,000 earnings.
The move will be reflected on the company’s financials during the fourth quarter of the fiscal year ended 31 March 2016.
