Ataa Educational signs SAR 278.2 mln Sharia-compliant facility with Riyad Bank

07/07/2021 Argaam

Logo of Ataa Educational Co.

Ataa Educational Co. signed, on July 6, a Sharia-compliant banking facility agreement with Riyad Bank for a total value of SAR 278.25 million, the company said in a bourse filing today, July 7.

 

The 10-year facility will be used to fund the firm's future expansion projects and working capital when required.

 

The credit facility was granted based on the strength of Ataa Educational's financial position against a promissory note.

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