Halwani Bros amends SAR 230.83 mln existing facility with Al Rajhi Bank

08/01/2023 Argaam
Logo of Halwani Bros. Co.

Logo of Halwani Bros. Co.

Halwani Bros. Co. signed an amendment, on Jan. 5, to the existing Sharia-compliant banking facilities agreement worth SAR 230.83 million with Al Rajhi Bank.

 

The financing value includes SAR 20.83 million medium-term financing extending to the end of March 2024 and a SAR 210 million facility to finance working capital until the end of July 2023, the company said in a statement to Tadawul. 

 

The statement noted the amended credit facilities aim to reduce the company’s finance cost. 

 

The entire credit facility is guaranteed by a promissory note.  

 

There are no related parties to the agreement, the statement said

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