Shalfa secures SAR 200M Islamic facility from SNB

09:08 AM (Mecca time) Argaam- Nomu
Shalfa Facilities Management says SNB financing will support guarantees and project funding needs

Shalfa Facilities Management says SNB financing will support guarantees and project funding needs

Shalfa Facilities Management Co. obtained SAR 200 million, Shariah-compliant credit facility from Saudi National Bank (SNB) on Nov. 25, according to a statement to Tadawul.

 

The financing facility tenor will extend until Sept. 30, 2026, and was guaranteed by a company promissory note.

 

The funds will be utilized to issue bid bonds, performance guarantees, advance payment guarantees, letters of credit, project progress payment financing, in addition to finance site preparation.

 

The deal included no related parties, the statement added.

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