SACO inks SAR 127.3 mln Islamic loan with Banque Saudi Fransi

27/08/2015 Argaam

The Saudi Company for Tools and Hardware (SACO) signed on Thursday a SAR 127.25 million Islamic loan agreement with Banque Saudi Fransi (BSF).

 

The newly listed retail company plans to use the credit facility to establish new branch, and to boost working capital requirements. 

 

The bank obtained a signed promissory note for the credit, and SACO’s land for its new branch will also be used as collateral.

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