Farm Superstores renews SAR 200 mln Islamic facility with Al Rajhi Bank

19/01/2020 Argaam

 

Saudi Marketing Co. (Farm Superstores) renewed today its SAR 200 million Shariah-compliant facility agreement with Al Rajhi Bank, the company said in a bourse statement.

 

The loan tenure starts from Dec. 30, 2019 to Nov. 30, 2020.

 

The credit facility, which is guaranteed by a promissory note, will be used to finance working capital needs, the statement said.

 

The deal has no related parties, it added.

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