Tadawul Group gets SAR 500M facilities from Al Rajhi Bank

01/02/2024 Argaam
Logo ofSaudi Tadawul Group Holding Co.

Logo of Saudi Tadawul Group Holding Co.

Saudi Tadawul Group Holding Co. obtained today, Feb. 1, SAR 500 million in Shariah-compliant banking facilities from Al Rajhi Bank to finance its mergers and acquisitions.

 

The facilities include short-term financing for 12 months and medium-term financing for five years, according to the group's statement to Tadawul.

 

The amount is covered by a promissory note, and no related parties are included in the transaction, the statement said.

 

This agreement is aligned with Tadawul Group's strategic commitment to champion the Saudi capital market development through continually executing the group’s ambitious strategy, pursuing sustainable growth, and diversifying revenue resources, the group added.

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