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Farm Superstores renews SAR 112m credit facility with BSF

Farm Superstores renews SAR 112m credit facility with BSF
The agreement will be extended to 31 January, 2021
FARM SUPERSTORES
4006
1.55% 22.32 0.34
BSFR
1050
0.67% 30.20 0.20

Riyadh – Mubasher: Saudi Marketing Company (Farm Superstores) has renewed a SAR 112 million credit facility agreement with Banque Saudi Fransi (BSF).

The agreement’s term will be extended to the end of January of 2021, according to a bourse statement released on Thursday.

The facility will be used to finance Farm Superstores’ operating capital and pay capital expenses of new branches.

It is worth highlighting that Farm Superstores posted a 28.33% year-on-year profit growth during the third quarter of 2019, recording a net profit of SAR 4.53 million.