AL-KHODARI RENEWS ISLAMIC CREDIT FACILITY

18/06/2013 Tadawul

Abdullah A. M. Al-Khodari Sons Company announces the signing of renewal of Islamic Credit Facilities Agreement with Al-Rajhi Bank on 17/06/2013 in the amount of SAR 245 million (Two Hundred Forty Five Million Riyals).

The bank renewed the facilities for the purpose of providing bonding commitments, fund capital requirements and working capital needs for the company's specific projects and general businesses. 61% of the facilities shall be utilized under Murabaha (funded) and 39% are for multi bonds and documentary credit till the expiry of credit agreement which may be renewed after 31/03/2014.

The repayment shall be made after the maturity of applicable tenor of the facility for which it would be drawn.

The facilities are secured by promissory note and assignment of the contract proceeds of to be financed projects.

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