Elm gets SAR 500 mln credit facilities from Al Rajhi Bank

11/09/2023 Argaam

Elm gets SAR 500 million in facilities from Al-Rajhi Bank

Logo of Elm Co. (Elm)

Elm Co. (Elm) obtained SAR 500 million worth of Shariah-compliant credit facilities from Al Rajhi Bank, according to a statement to Tadawul today, Sept. 11.

 

The facilities, valid for 12 months, are secured by a promissory note for the full amount.

 

The funds will be used to finance working capital and facilitate bank guarantees. There are no related parties to the agreement.

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