Riyadh – Mubasher: Halwani Bros. Company announced signing Sharia-compliant credit facility agreements with Al Rajhi Bank valued at SAR 140 million.

The credit facilities are a medium-term loan of SAR 65 million, maturing in three years, and a one-year SAR 75 million loan for working capital financing, according to a stock exchange statement on Wednesday.

The financing, guaranteed by a promissory note for the total facility amount, aims to restructure the current loan to reduce financing cost.