Halwani inks Islamic credit facility agreement at SAR 120 mln with GIB

02/01/2023 Argaam

Halwani inks Islamic credit facility agreement at SAR 120 mln with GIB

Logo of Halwani Bros. Co. 

Halwani Bros. Co. signed on Jan. 1 a Shariah-compliant credit facility agreement at SAR 120 million with the Gulf International Bank (GIB), according to a statement to Tadawul.

 

The credit facility included a sum of SAR 100 million to finance the working capital, extending for one year and renewable on an annual basis, and a sum of SAR 20 million to finance treasury products and will extend for five years.

 

The credit facility will be guaranteed by a promissory note, and the deal included no related parties, the statement added.

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