Keir raises SAB credit facilities to SAR 121.1M

13/02/2024 Argaam

Keir raises SAB credit facilities to SAR 121.1M

Logo of KEIR International Co.

Keir International Co. signed an agreement today, Feb. 13, to increase the Shariah-compliant credit facilities granted by Saudi Awwal Bank (SAB) from ASAR 99.08 million to SAR 121.1 million, according to a filing to Tadawul.

 

The facilities are aimed at project financing as well as the issuance of bank guarantees and letters of credit.

 

The financing duration is 12 months, the company said, adding that no guarantees are offered for the loan.

 

There are no related parties to the deal.

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