NCLE signs SAR 188 mln credit facility with SABB

09/10/2022 Argaam
Logo of National Company for Learnings and Education (NCLE)

Logo of National Company for Learnings and Education (NCLE)

National Company for Learning and Education (NCLE) inked today, Oct. 9, a Shariah-compliant credit facility agreement with Saudi British Bank (SABB) at a total value of SAR 188 million, according to a bourse filing.

 

The facility tenor extends for seven years maximum, including a two-year grace period, and was guaranteed by a promissory note equivalent to the facility value.

 

The facility will be directed to financing acquisitions, purchase of assets, in addition to the construction works.

 

The deal included no related parties, the statement added.

 

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