Bawan Company (Bawan) has renewed a SAR 200 million shariah-compliant financing facility agreement with Bank Albilad, the company said in a statement to Saudi bourse, Tadawul.
The facility will extend from Jan. 9 to Feb. 9, 2017, and will be utilized for working capital needs. The facility will be repaid in over a period between six and 12 months.
The refinancing facility is guaranteed by a promissory note, in addition to the proceeds of contracts where advance payments exceed SAR 2 million.
Comments
{{DisplayName}}
{{ElapsedTime}}