AOL secures SAR 14.5M credit facility with Riyad Bank

15/07/2024 Argaam
Logo ofAcademy of Learning Co. (AOL)

Logo of Academy of Learning Co. (AOL)

Academy of Learning Co. (AOL) obtained today, July 15, a Shariah-compliant credit facility from Riyad Bank for a total amount of SAR 14.5 million, according to a statement to Tadawul.

 

The financing has a term of four years and is covered by a guarantee under a fine and solidarity bond approval from the Chairman of the board of directors and a promissory note submitted by the company to the bank, the statement added.

 

For more news on listed companies

 

The amount is intended to finance future expansions.

 

There are no related parties in the agreement, the statement said.

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