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Farm Superstores renews credit facility with NCB

Farm Superstores renews credit facility with NCB
(Photo archive)
FARM SUPERSTORES
4006
41.03% 28.15 8.19

Riyadh – Mubasher: Saudi Marketing (Farm Superstores) renewed its credit facility deal with the National Commercial Bank (NCB) at a value of SAR 229.27 million.

The financing period extends from the beginning of April 2017 until 31 March 2018, according to a bourse filing on Thursday.

The contract aims to boost the company's working capital and opening new branches.

The loan was secured by a promissory note, the statement said.

On 2 April, the Saudi-listed company had signed a credit facility agreement with the National Bank of Kuwait (NBK) worth SAR 105 million.