Riyadh – Mubasher: Najran Cement Company announced on Monday that it has received the full amount of a SAR 355 million Sharia-compliant credit facility from Bank AlJazira.

The five-year credit facility agreement includes a promissory note, in addition to the partial assignment of the insurance policy in favour of the bank as the first beneficiary covering the full amount of the financing, according to a market disclosure.

The loan aims at funding the redemption of the company’s Sukuk, which matures on 11 June 2020.