SHL signs SAR 200M credit facility deal with SAIB

Logo of SHL Finance Co.

SHL Finance Co. signed a Shariah-compliant credit facility agreement worth SAR 200 million with The Saudi Investment Bank (SAIB).

In a statement to Tadawul, the company indicated that the facility was obtained today, Aug. 18, extending for a tenor of five years.

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It highlighted that the offered guarantees are a promissory note, in addition to an assignment of receivables.

The purpose of this facility is to expand and increase SHL’s sales volume through new originated loans to its customers, in line with its strategy and future plans.

SHL also confirmed that the credit facility deal came within the normal course of doing business, adhering to the relevant commercial conditions. It involved no related parties and granted no preferential terms.