Tihama inks SAR 1.5 mln Murabaha facility to finance operations

17/12/2019 Argaam

 

Tihama Advertising & Public Relations Co. signed on Tuesday a Murabaha loan agreement with an affiliate of Adeem Capital at a total value of SAR 1.5 million.

 

The credit, which has a term of two years, will be used to finance Tihama’s working capital, operating activities, and subsidiaries, the company said in a bourse filing.

 

Tihama clarified that the credit will be repaid quarterly, noting that it is covered by a promissory note and a pledge of trade receivables.

 

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

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