Riyadh – Mubasher: Al Hammadi Company for Development and Investment said it signed, Shariah compliant, financing facility agreement with Arab National Bank.

The loan value stands at SAR312.5 million ($83.3 million), and was disbursed against promissory note as a guarantee, said a bourse filling.

The company will use the loan in financing current credit facilities, in addition to supporting its working capital to enhance its growing business operations.

The loan duration is five years including two years as a grace period, added the bourse filling.