Al Hokair secures SAR 350m Murabaha facilities from SABB

10/12/2014 Argaam

Fawaz Abduaziz Al-Hokair Company signed SAR 350M Murabaha facilitates agreement with SABB.
 

The agreement period starts today till April 30, 2015 and is renewable for an additional year; the company said in a filing to Tadawul.


The amount is intended to be used in financing the working capital requirements and the company’s expansions.


The credit is guaranteed by a promissory note and each letter of credit or letter of guarantee has a funding period of no more than 6 months.

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