Elm renews SAR 500M credit facility deal with Al Rajhi Bank

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Elm Co. renewed a Shariah-compliant credit facility deal worth SAR 500 million with Al Rajhi Bank, according to a statement to Tadawul today, Aug. 22.

 

The 12-month facilities are secured by a promissory note at the full amount of the financing.

 

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The funds will be used to finance working capital and facilitate bank guarantees. There are no related parties to the agreement, it noted.

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