Al-Khodari secures SAR 115 mln Islamic loan

01/01/2018 Argaam

Abdullah A. M. Al-Khodari Sons Company has signed a SAR 155 million Islamic loan agreement with its major shareholder Abdullah A. M. Al-Khodari Sons Investment Holding Company, it said in statement to Tadawul on Monday.

 

The new credit facility will be used to boost working capital and capex requirements.

 

The loan, which is secured by promissory note, will be repaid without any commissions or financial charges by Dec. 31, 2019, the statement said.

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