Logo of Ataa Educational Co.
Ataa Educational Co. announced the renewal of a Shariah-compliant credit facility agreement with Banque Saudi Fransi (BSF), at a value of SAR 107.1 million, according to a statement to Tadawul.
The company obtained the five-year facility today, indicating that the loan is guaranteed by a promissory note and real estate guarantees.
The loan is aimed to finance acquisitions, construction of educational complexes, working capital, letters of guarantee, and interest rate swap, said Ataa. It noted that there are no related parties.
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