2P obtains SAR 50 mln Shariah-compliant credit facility from GIB

02/02/2023 Argaam

2P obtains SAR 50 mln Shariah-compliant credit facility from GIB

Logo of Perfect Presentation for Commercial Services Co. (2P)

Perfect Presentation for Commercial Services Co. (2P) signed today, Feb. 2, a Shariah-compliant credit facility agreement worth SAR 50 million with Gulf International Bank (GIB), according to a statement to Tadawul.

 

The facility, which is secured by a promissory note at its value, will expire on Feb. 1, 2024, said the company.

 

It also indicated that the loan will be utilized in financing new project contracts and issuing letters of credit and guarantees.

 

There are no related parties.

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