Farm Superstores raises SAR 175 mln loan from Kuwait’s NBK

Saudi Marketing Co. (Farm Superstores) has amended its credit facilities agreement with National Bank of Kuwait (NBK), increasing total loans by SAR 70 million to SAR 175 million, the company said in a bourse statement on Monday.

The tenure of the loans, which were guaranteed by a promissory note, starts from March 23, 2017 until March 31, 2018.

Last month, the company signed a loan agreement worth SAR 105 million with the Kuwait-based bank to finance capital expenditures of new branches and the working capital.