TAM signs SAR 50M credit facility agreement with Riyad Bank

Logo of TAM Development Co.

TAM Development Co. signed today, Nov. 3, a shariah-compliant banking facilities agreement with Riyad Bank worth SAR 50 million.

 

The 12-month facility is covered by a promissory note worth 100% of the total value, the company said in a statement on Tadawul.

 

The facility aims to support the company’s expansion plans and sustainable growth by funding current and future projects, facilitating various bank guarantees, and providing flexible financing solutions to enhance working capital and financial flexibility.

 

The company confirmed that there are no related parties to the deal.

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