SAIC repays SAR 25 mln debt to bank before maturity

26/12/2018 Argaam

 

Saudi Advanced Industries Co. has repaid an amount of SAR 25 million before maturity representing the used part of the credit facilities obtained from Saudi Investment Bank (SAIB), the company said in a bourse statement.

 

The financial impact of the transaction will reflect on the company’s financials for Q1 2019, the statement added.

 

The credit facilities agreement will remain outstaning.

 

In July, Saudi Advanced Industries Co. (SAIC) inked a SAR 50 million shariah-compliant credit facility agreement with Saudi Investment Bank (SAIB), according to data compiled by Argaam.

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