2P renews SAR 306 mln credit facility deal with SAB

Logo of Prefect Presentation for Commercial Service Co. (2P)

Prefect Presentation for Commercial Service Co. (2P) renewed today, Sept. 20, a Shariah-compliant credit facility agreement worth SAR 306.18 million with Saudi Awwal Bank (SAB), the company said in a statement to Tadawul. 

 

The facility agreement, valid until Sept 30, 2024, is guaranteed by a promissory note for the total facilities amount, the company added. 

 

The financing, according to 2P, aims to fund new projects and issue letters of credit and guarantees. It noted that there are no related parties to the agreement.   

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