Tanmiah increases credit facility from GIB Saudi Arabia by SAR 95M

04/12/2024 Argaam
Logo ofTanmiah Food Co.

Logo of Tanmiah Food Co.

Tanmiah Food Co. increased its existing short-term revolving Murabaha facility with Gulf International Bank Saudi Arabia (GIB Saudi Arabia) from SAR 125 million to SAR 220 million.

 

In a statement to Tadawul, the company said that the increase was aimed at supporting the working capital requirements of its subsidiaries.

 

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The financing term is one year, the statement said, adding that the loan is guaranteed by a promissory note, with no related parties to the deal. 

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