Al-Baha's subsidiary reduces credit facility from ANB by SAR 15 mln

26/10/2022 Argaam

Al-Baha's subsidiary reduces credit facility from ANB by SAR 15 mln

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. announced that its subsidiary, Elegant Centers Ltd Co., reduced its credit facility from Arab National Bank (ANB) by SAR 15 million to SAR 50 million, according to a statement to Tadawul.

 

The amendment also included reducing the financing period to five years, with a grace period of six months. Other conditions remain unchanged.

 

Al-Baha earlier announced that Elegant Centers obtained a Shariah-compliant bank loan worth SAR 65 million from ANB on June 9. The loan period was set at six and half years, including a six-month grace period, according to data compiled by Argaam.

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