AL-MOJIL Signs Credit Facilities With Seven Banks

01/07/2012 Tadawul

Mohammad Al-Mojil Group (MMG) announced on June 30, 2012 that it signed bank credit facilities with seven local banks (SABB, Alahli, Alarabi, Samba, Al-Riyad, AlJazira and Saudi Fransi) valued SAR 450 million. The facilities aim at fostering company’s liquidity position and operations, and are collateralized by fixed assets, project revenues and proceeds, guarantees and insurance covers.

Repayment will start early October 2012 till end of 2013.

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