Ladun renews SAR 181.6M facility with Riyad Bank

23/07/2024 Argaam
Logo of Ladun Investment Co.

Logo of Ladun Investment Co.

Ladun Investment Co.’s board of directors approved today, July 23, the agreement to renew Shariah-compliant credit facilities worth SAR 181.60 million with Riyad Bank.

 

The financing duration ranges from one to five years, the company said in a statement to Tadawul. The guarantees include a pledge of acquired lands, assignment of project revenues, and promissory notes.

 

For more news on listed companies

 

The funding will be used to finance Ladun’s working capital, project financing and land acquisitions.

 

There are no related parties to the agreement, the statement added.

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