‎“National Building & Marketing” signs deal to increase facilities ‎limit from “Riyad Bank” by SR90 mln

The National Building and Marketing Co. announced that it had signed an agreement to increase the limit of banking facilities granted by Riyad Bank, in compliance with the provisions of Islamic Sharia, with an increase of (90) million riyals – securitization financing for the purpose of financing its working capital for existing projects, as the financing period is 18 months.

Regarding the guarantees provided in exchange for financing, the company said in a statement today on “Tadawul” that it is represented in a promissory note and with the same terms and conditions of facilities and provisions previously approved by the bank.