Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) with Saudi National Bank.
Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) from Saudi National Bank
Date of obtaining the funding
2021-11-01 Corresponding to 1443-03-26
Financing entity
Saudi National Bank
Financing amount.
Facilities amounting to SAR 20 million as a general limit that can be used for several sub-limits
Financing duration.
One year
Guarantees offered for the financing
The facility is secured by an SAR 22m promissory note and mortgage over fixed deposit (equivalent to total facility value) in favor of the bank.
Financing objective
Restructuring the financial obligations of the company and providing non-cash facilities to the company (guarantees and credits).
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