MIS renews, amends SAR 550M credit facility agreement with SNB

04:33 PM (Mecca time) Argaam
Logo ofAl Moammar Information Systems Co. (MIS)

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) announced on Feb. 26 the renewal and amendment of a Shariah-compliant credit facility agreement with Saudi National Bank (SNB) worth SAR 550 million.

 

In a statement on Tadawul, MIS said that the financing runs until Feb 28, 2027. It is secured by a promissory note in the amount of total facilities limit.

 

The funds are meant to finance new project contracts and issue of letters of credit and guarantee, the statement said, adding that there are no related parties to the deal.

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