Nama secures SAR 125m credit for establishing employees’ residential units

02/01/2014 Argaam

Nama Chemical company announced on tadawul today signing SAR 125m Sharia compliant credit agreement with Saudi Hollandi Bank SHB.

 

The agreement has a grace period of 3 years and a term of 8 years.

 

The guarantees presented for this credit include a promissory note from Nama industrial company, an affiliated company, along with Nama guarantee.

 

The proceeds will be used to finance phase 1 of the employees’ residential units project in Jubail and the loan to be repaid by deducting house allowances and a part of the basic salary from the benefited employees.

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