SHL renews, upsizes SAR 2.2B credit facility deals with Bank Albilad, ANB

Logo of SHL Finance Co.

SHL Finance Co. renewed today, Sept. 15, two Shariah-compliant banking facilities worth SAR 2.19 billion with Bank Albilad and Arab National Bank (ANB).

A three-year financing valued at SAR 300 million was secured from Bank Albilad. Another SAR 1.89 billion was obtained from ANB, with a tenor extending for five years, the company said in two separate filings to Tadawul.

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It highlighted that the financing is secured by a promissory note and receivables, adding that the renewal will support expansion and boost sales through new loans to more clients, in line with its strategy and future plans.

SHL confirmed the agreements are routine transactions conducted in the normal course of doing business, under prevailing commercial terms and without preferential conditions.