Ataa Educational inks SAR 100 mln Murabaha facility deal with Emirates NBD

23/03/2022 Argaam
Logo ofAtaa Educational Co.

Logo of Ataa Educational Co.

Ataa Educational Co.’s subsidiary, Arabian Education and Training Group Holding Co., signed a Shariah-compliant Murabaha facility deal worth SAR 100 million with Emirates NBD, according to a bourse filing.

 

The company will utilize the facility to repay and reschedule SAR 100 million worth of outstanding loans maturing in 2022. 

 

The loan shall be repaid in semi-annual installments beginning from the withdrawal date this year through 2029, with a six-month grace period. 

 

The debt facility will be guaranteed by a promissory note, and a real estate guarantee owned by Arabian Education and Training Group. 

 

The agreement offers competitive prices and better commercial terms. It involves no related parties. 

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