SHL renews SAR 200M facilities with Emirates NBD

Logo of SHL Finance Co.

SHL Finance Co. renewed a Shariah-compliant credit facilities agreement with Emirates NBD, with a total value of SAR 200 million.

In a statement to Tadawul, the company said the 5-year financing was obtained on Feb. 18, noting that a promissory note and receivables were provided to the bank as collateral for the financing.

The purpose of renewing the facility is to expand and increase SHL's sales volume through new originated loans to its customers, in line with the company's strategy and future plans.

The company confirms that the facility agreement is a continuous transaction that is carried out in the normal course of business and in accordance with prevailing commercial conditions and without any preferential terms.

There are no related parties involved, the statement noted.