Al Kathiri Holding Co. signed an agreement with National Commercial Bank (NCB) to renew existing Shariah-compliant credit facilities, raising the total value from SAR 3 million to SAR 5 million, the company said in a bourse statement.
The credit term, which lasts until August 31, 2020, could be extended, the statement noted.
The amount is covered by a promissory note and is intended to be used in financing working capital and meeting other business requirements, according to the statement.
No related parties are involved in the deal.
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