Riyadh – Mubasher: Al Rabie Saudi Foods Company, a subsidiary of Aseer Trading, Tourism and Manufacturing Company (Aseer), has secured Sharia-compliant credit facilities of SAR 342 million from Samba Financial Group.

The credit facilities are a long-term loan of SAR 150 million and a loan of SAR 192 million for working capital financing, according to a stock exchange statement on Tuesday.

The duration of the long-term loan is five years including a six-month grace period, while the duration of the working capital loan is one year/renewable on a yearly basis.

The loan is guaranteed by a promissory note for the total facility amount.