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Perfect Presentation secures SAR 50m loan from GIB

Perfect Presentation secures SAR 50m loan from GIB
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Riyadh – Mubasher: Perfect Presentation for Commercial Services Company, known as 2P, obtained a Sharia-compliant facility worth SAR 50 million from Gulf International Bank (GIB) on 2 February 2023.

The Saudi company will use the loan to finance new project contracts as well as issue letters of credit and guarantee, according to a bourse disclosure.

Meanwhile, the facility agreement, which is valid until 1 February 2024, is secured by a promissory note worth the value of the total loan limit.

Last month, Perfect Presentation was awarded a SAR 43.91 million project contract with Al Noor Specialist Hospital in Makkah.

In November 2022, the company commenced the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul).