SHL secures SAR 300M credit facilities from Alinma Bank

Logo of SHL Finance Co.

SHL Finance Co. obtained Shariah-compliant credit facilities totaling SAR 300 million from Alinma Bank, it said in a statement to Tadawul.

The facilities aim to support the company’s expansion plans and boost sales during the coming period through new financing offered to customers, in line with its strategy and future outlook.

The loan has a five-year term and is guaranteed by a promissory note and the assignment of receivables as collateral.

There are no related parties to the deal, the statement added.

The agreement reflects ongoing transactions conducted in the ordinary course of business under prevailing commercial terms and without any preferential conditions.