Arabica Star secures SAR 5M financing from Al Rajhi Bank

12:13 PM (Mecca time) Argaam- Nomu
Logo ofArabica Star Co.

Logo  of Arabica Star Co.

Arabica Star Co., listed on the Nomu-Parallel Market, obtained Shariah-compliant financing worth SAR 5 million from Al Rajhi Bank.

 

In a statement on Tadawul today, the company said the facility aims to finance its operating cycle and purchase raw materials and goods.

 

The financing term is six months from the utilization date, the company added, noting that the financing is secured by a promissory note covering the full facility amount.

 

It also confirmed that there are no related parties to the transaction.

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