Farm Superstores seals SAR 106 mln credit facility deal with NCB

01/10/2019 Argaam

 

Saudi Marketing Co. (Farm Superstores) has inked a SAR 105.5 million worth of a credit facility agreement with National Commercial Bank (NCB), the company said in a bourse statement.

 

The facility, which was guaranteed by a promissory note, will extend from Sep. 3, 2019 until March 31, 2020.

 

The credit facility will go for financing the requirements of the working capital in addition to opening new stores.

 

No related parties are involved in the agreement, the statement added.

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