Riyadh – Mubasher: Abdullah Abdul Mohsen Al-Khodari Sons Company renewed on Tuesday, 28 November, an agreement of Islamic credit facilities with Gulf International Bank (GIB) at a value of SAR 94 million ($25 million).

The facilities include 35% loans under Murabaha, and the rest 65% is for multi-purpose bonds, according to a statement on Wednesday to the Saudi Stock Exchange (Tadawul).

These facilities aim to finance the operating capital and purchase fixed assets for the firm’s projects.

The contract was secured by promissory note, in addition the assignment of the contract proceeds of the financed projects.

The facilities will be paid on monthly basis, until its end date on 30 June 2020.

By 10:13 am KSA time, the stock increased 2.04% to SAR 8.02.