Farm Superstores renews SAR 200 mln Islamic facility with Al Rajhi Bank

14/01/2019 Argaam

 

Saudi Marketing Co. (Farm Superstores) renewed today its SAR 200 million Shariah compliant facility agreement with Al Rajhi Bank, the company said in a bourse statement.

 

The loan tenure starts from date to Sep. 30, 2019, it said.

 

The credit facility, which is guaranteed by a promissory note, will be used to finance working capital needs, Farm Superstores said.

 

The deal has no related parties, it added.

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