Tanmiah subsidiary gets SAR 35M facilities from Ahli United Bank

07/11/2024 Argaam
Logo ofTanmiah Food Co.

Logo of Tanmiah Food Co.

Tanmiah Food Co.’s subsidiary, Tanmiah Restaurants for Fast Food Co., obtained today, Nov. 7, a SAR 35 million revolving working capital facility and long-term Murabaha financing from Ahli United Bank.

 

The seven-year facility starts from the first drawdown date, backed by a promissory note and corporate guarantees, TADCO said in a statement to Tadawul.

 

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The funds will support strategic expansion and meet working capital needs, the statement added.

 

There are no related parties to the deal.

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