Umm Al-Qura Cement seals SAR 60M credit facility deal with SNB

05:48 PM (Mecca time) Argaam
Logo ofUmm Al-Qura Cement Co.

Logo of Umm Al-Qura Cement Co.

Umm Al-Qura Cement Co. signed today, March 30, a Shariah-compliant credit facility agreement worth SAR 60 million with Saudi National Bank (SNB).

 

The 12-month financing is secured by a SAR 66 million promissory note and will be used to finance working capital, fund capital expenditures, issue letters of guarantee, and open letters of credit, the company said in a statement on Tadawul.

 

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

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