SACO obtains SAR 50M credit facilities from SAB

11/12/2024 Argaam
Logo ofSaudi Company for Hardware (SACO)

Logo of Saudi Company for Hardware (SACO)

Saudi Company for Hardware (SACO) announced today, Dec. 11, obtaining credit facilities worth SAR 50 million from Saudi Awwal Bank (SAB).

 

For more news on listed companies

 

In a statement to Tadawul, the company added that guarantees offered in exchange for the six-month facility included a promissory note at a value of SAR 50 million and a mortgage on the company’s warehouse in Riyadh.

 

The loan, according to SACO, is aimed at refinancing letters of credit, noting that there are no related parties.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.