Saudi Tadawul Group Holding Co. announces obtaining of an Islamic Sharia-compliant banking facilities
| Element List | Explanation |
|---|---|
| Introduction | Saudi Tadawul Group Holding Co. (the Group) announces that it has obtained Islamic Sharia-compliant banking facilities from Al Rajhi Bank with the purpose of financing the Group’s mergers and acquisitions. |
| Date of obtaining the funding | 2024-02-01 Corresponding to 1445-07-20 |
| Financing entity | Al Rajhi Bank |
| Financing amount. | SAR 500 million |
| Financing duration. | • 12 months for the short-term financing
• 5 years for the medium-term financing |
| Guarantees offered for the financing | Promissory note |
| Financing objective | Financing the Group’s mergers and acquisitions |
| Related Parties | There are no related parties |
| Additional Information | This agreement is aligned with the Group's strategic commitment to champion the Saudi capital market development, by continually executing the Group’s ambitious strategy, pursuing sustainable growth and diversify revenues. |
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