Axelerated Solutions ups, renews 2 financing deals worth SAR 120M with Riyad Bank, SAB

21/08/2025 Argaam
Logo of Axelerated Solutions, which began trading on the Nomu-Parallel Market on June 1

Logo of Axelerated Solutions, which began trading on the Nomu-Parallel Market on June 1

Axelerated Solutions for Information and Communication Technology Co. announced today, Aug. 21, the increase and renewal of two Shariah-compliant credit facility agreements worth SAR 120 million with Riyad Bank and Saudi Awwal Bank (SAB).

 

The deal with Riyad Bank is valued at SAR 50 million, while the one with SAB amounted to SAR 70 million, the Nomu-listed company said in a Tadawul filing.

 

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The two credit facilities were obtained on Aug. 20, 2025, with a tenor extending until Aug. 20, 2026.

 

A promissory note to the total financing value was provided as collateral for both loans, it added.

 

The facilities will be used to fund new project contracts as well as issue letters of credit and guarantees, the company pointed out, noting no related parties were involved in the two deals.

 

Axelerated Solutions’ shares began trading on the Nomu-Parallel Market on June 1, data compiled by Argaam indicated.

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