MIS renews, amends SAR 1.45 bln facility with BSF

25/07/2023 Argaam

MIS renews, amends SAR 1.45 bln facility with BSF

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed today, July 25, a renewal and amendment agreement for a Shariah-compliant credit facility worth SAR 1.45 billion with Banque Saudi Fransi (BSF), according to a statement to Tadawul.

 

The financing was secured on July 23, 2023, said the company, adding that it was extended until July 31, 2024.

 

The loan is secured by a promissory note to the amount of total facility limit, MIS stated.

 

It indicated that the facility aims to finance new project contracts and issuance of credit and guarantee letters, noting that there are no related parties.

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