Pan Gulf secures SAR 25M facility from Al Rajhi Bank

08:40 AM (Mecca time) Argaam- Nomu
Pan Gulf says credit facility from Al Rajhi Bank to support working-capital needs

Pan Gulf says credit facility from Al Rajhi Bank to support working-capital needs

Pan Gulf Marketing Co. obtained on Nov. 19 Shariah-compliant credit facilities from Al Rajhi Bank for SAR 25 million, according to a statement to Tadawul.

 

The one-year facilities are planned to finance the working capital. Pan Gulf provided a promissory note, a corporate guarantee, and a personal guarantee to obtain the credit.

 

There are no related parties involved in the deal, the statement added.

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