Aseer secures SAR 200 mln Murabaha facility from Al Rajhi Bank

06/03/2022 Argaam

Logo of Aseer Trading, Tourism and Manufacturing Co.

Aseer Trading, Tourism and Manufacturing Co. obtained today, March 6, a short-term, revolving Murabaha financing facility worth SAR 200 million from Al Rajhi Bank, according to a bourse filing.

 

The facility tenor will extend for one year from the date of the agreement signing. It will be renewed on an annual basis.

 

The facility will be guaranteed by a promissory note and share pledge.

 

The loan facility will be utilized in financing working capital, the statement said.

 

There are no related parties.

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