2P inks SAR 120M credit facility deal with NBK

The financing will be utilized for new awarded projects, Issuing letters of guarantee and letters of credit

Prefect Presentation for Commercial Services Co. (2P) signed a Shariah-compliant credit facility agreement worth SAR 120 million with National Bank of Kuwait (NBK).

In a statement to Tadawul, the company said that the agreement was signed today, Oct. 5, the same day the financing was obtained. The loan term extends till Oct. 5, 2026.

It also noted that a promissory note to the amount of the facilities was offered as collateral.

According to the company, the financing will be utilized for new awarded projects and issuing letters of guarantee and letters of credit. There are no related parties involved in the deal.