Sahara gets SAR 450 mln revolving loan from Al Rajhi Bank

10/06/2018 Argaam

 

Sahara Petrochemical Co. has signed a revolving loan facility agreement with Al Rajhi Bank at SAR 450 million, the Saudi petrochemicals company said in a bourse filing.

 

The loan tenure extends for one year until June 7, 2019, and the facility was guaranteed by a promissory note from the company.

 

The loan will go for financing the working capital requirements, and ensures the company’s financial solvency.

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