Saudi Arabia-based Abdul Mohsen Al Hokair Group for Tourism and Development Co. signed a Murabaha loan agreement with Gulf International Bank at a total value of SAR 150 million.
The financing, guaranteed by a promissory note, was valid as of Dec. 15 and will last until Nov. 27.
The facility will go towards the company’s expansions, in addition to fulfilling requirements of its working capital. It will be paid in quarterly installments over a maximum period of four years.
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