Alhokair Group reschedules SAR 168 mln facilities with Al Rajhi Bank

25/04/2021 Argaam

Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) signed today, April 25, 2021, an agreement to reschedule banking facilities worth SAR 168 million with Al Rajhi Bank, the company said in a bourse filing.

 

The move came in line with the company's cash flows, which will have a positive impact on enhancing its performance during the next period.

 

The original loan term ends in 2025; however, after debt rescheduling, it will end in 2027.

 

A promissory note was offered as a guarantee for the rescheduled financing, Alhokair said, adding that there are no related parties to the deal.

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