‎“Saudi Azm” renews facility agreement with Al-Rajhi Bank for ‎SR35 mln

Saudi Azm announced the renewal of the Sharia-compliant banking facilities agreement with Al-Rajhi Bank, at a value of 35,000,000 riyals, to finance working capital requirements, finance new project contracts and issue letters of guarantee, as the financing period extends from 11-13 – 2022 to 10-31-2023.

The company said in a statement today on “Tadawul” that the guarantees are represented in the agreement of the main terms and conditions for banking facilities / facilities agreement / forward sale agreement / approval of a corporate guarantee / guarantee of fines, performance and commitment / assignment agreement for projects

The necessary signatures were completed and a copy of the agreement was received on 07-16-1444 AH corresponding to 02-07-2023 AD.