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Abo Moati renews SAR 45m loan agreement

Abo Moati renews SAR 45m loan agreement
The renewal duration is one year starting 7 April 2021
ABO MOATI
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Riyadh – Mubasher: Abdullah Saad Abo Moati for Bookstores Company extended a credit facilities agreement worth SAR 45 million with Samba Bank, according to a disclosure to Tadawul on Thursday.

The renewal duration is one year starting 7 April 2021 for the deal that is Sharia-compliant.

Abo Moati will use the funding proceeds in financing the working capital.

The stationery company earlier extended its loan agreements with the Saudi Investment Bank (SAIB) and the Saudi National Bank at SAR 70 million and SAR 40 million, respectively.