Jadco signs facility agreement with Banque Saudi Fransi worth SR40 mln

Al-Jouf Agricultural Development Company (Jadco) announced on Tuesday the signing of a bank facilities agreement with Banque Saudi Fransi (in line with Islamic Shariah). The financing amount is SR40 million. The financing duration is one year ending on 30-11-2023.

It added that refinance of letter of credit and issued a letter of guarantee and restructuring of bank facilities of the Company.

Regarding the guarantees provided in return for financing, the company said that they are represented by a promissory note, indicating that there are no related parties.