ARDCO’s Tanal makes early repayment of SAR 800 mln credit facilities

Logo of Arriyadh Development Co.

Arriyadh Development Co. (ARDCO) said in a bourse statement its associate, Tanal for Real Estate Investment and Development, made early and full repayment of SAR 800 million credit facilities secured from a local bank. 

Accordingly, ARDCO has no financial obligation with regard to this loan.

In 2019, the Tadawul-listed company said that Tanal secured three-year credit facilities worth SAR 800 million from a local bank, Argaam earlier reported.

Tanal is 69.38% owned by ARDCO, while Sumou Holding owns the remaining 30.62% stake.