Logo of Ataa Educational Co.
Ataa Educational Co.’s subsidiary, Arabian Education and Training Group Holding Co., signed a Shariah-compliant Murabaha facility deal worth SAR 100 million with Emirates NBD, according to a bourse filing.
The company will utilize the facility to repay and reschedule SAR 100 million worth of outstanding loans maturing in 2022.
The loan shall be repaid in semi-annual installments beginning from the withdrawal date this year through 2029, with a six-month grace period.
The debt facility will be guaranteed by a promissory note, and a real estate guarantee owned by Arabian Education and Training Group.
The agreement offers competitive prices and better commercial terms. It involves no related parties.
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