Abdulmohsen Alhokair obtains SAR 100 mln loan

29/06/2016 Argaam

Abdulmohsen Alhokair Group for Tourism and Development Company signed on Tuesday an agreement with Gulf International Bank on a SAR 100 million shariah-compliant credit facility to fund expansion.

 

The agreement, which runs from May 31, 2016 to November 27, 2017, was secured against a promissory note, and includes long and short term loans with maximum maturity of five years, the company said in a statement to the Saudi bourse Tadawul.

 

The company has also renewed a SAR 150 million credit agreement with the bank.

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