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SACO gets SAR 127m Islamic Loan from BSF

SACO gets SAR 127m Islamic Loan from BSF
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SACO
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Riyadh-Mubasher: The Saudi Company for Tools and Hardware (SACO) signed on Thursday a SAR 127.2 million Islamic loan agreement with Banque Saudi Fransi (BSF), the company said in a statement to Tadawul.

The financing period extends from 30 April 2015 until 30 April 2016.

The loan will be used by the company in establishing its headquarters in Riyadh and boosting the working capital requirements.

The loan is secured by a promissory note and SACO’s land upon which the headquarters will be built.