Riyadh – Mubasher: Saudi Marketing Company, known as Farm Superstores, has signed a SAR 100 million ($26.7 million) credit facility with Banque Saudi Fransi.

The deal is effective as of 21 March to 29 June 2018, upon which the Saudi firm will pay off capital expenditure (CAPEX) for the new branches, Saudi Marketing said in a filing to the Saudi Exchange (Tadawul) on Tuesday.

The credit facility will be secured through a promissory note from Saudi Marketing, the company noted.

Saudi Marketing’s stock closed Monday’s trading session down 1.46% to SAR 23.56.